1) The amount of health insurance reimbursement actually paid may be reduced by [internal limits | co-payment caps]. Answer 2) Bob and Barbara Castle are each 39 years old and have sought your advice with regard to their financial affairs. Bob is a school administrator making $75,000 per year and Barbara is not employed outside of the home. The Castles' net worth is approximately $190,000. They have three kids, aged 6, 10, and 14. You have determined that the Castles currently have adequate life, health, auto, and homeowner's insurance. Which of the following forms of insurance is likely to fulfill their highest priority risk management need? Answer a. supplemental major medical insurance b. long-term care insurance c. disability income insurance d. additional life insurance e. critical illness insurance 3) Gabe is 58 years old and has been dependent on a cane for a couple of years. Gabe fears that he may need long-term care services some day in the future. His net worth is $400,000 and he receives $50,000 per year in a pension. He considers himself to be in excellent health and has never had a serious health scare like a heart attack, stroke, or cancer. He eats lots of bran and exercises regularly. Which of the following policies would you recommend to Gabe? Answer a. Gabe should buy a long-term care policy with a five-year limit, short elimination period without a COLA. b. Gabe should buy a long-term care policy with a long elimination period, lifetime benefits, and a COLA. c. Gabe needs a disability income policy. d. Gabe can qualify for Medicaid if and when he needs long-term care services. e. Gabe doesn't need disability insurance and probably can't qualify for long-term care insurance. 4) A comprehensive health insurance usually covers the cost of anesthetics and their administration. Answer True or False 5) Long-term health care [does | does not] have a deductible. 6) Premiums for Workers Compensation are paid by the [employees | employers]. 7) Which of the following best describes a custodial care facility? Answer a. custodial care is best provided in a hospital where surgical facilities are always available. b. a place that provides regular assistance with such activities as transferring someone from a bed to a chair, or helping them take a bath or get dressed. c. a place with licensed medical professionals that assist residents regularly with medically necessary care. d. a place that provides assistance in the normal activities of daily living but no medical attention or supervision. e. a place that provides regular assistance with chronic health conditions that are acute in nature. 8) Which of the following is not a desirable feature in a long-term care policy? Answer a. coverage for Alzheimer's disease b. duration of benefits of 6 years c. coverage for preexisting conditions d. inflation protection e. optional renewability clause 9) Supplementary Medical Insurance is a voluntary participatory program, commonly known as Medicare Part B. Answer True or False 10) Health Maintenance Organizations (HMOs) provide pre-paid health care to participants. Answer True or False
1) The amount of health insurance reimbursement actually paid may be reduced by [internal limits | co-payment caps]. Answer 2) Bob and Barbara Castle are each 39 years old and have sought your advice with regard to their financial affairs. Bob is a school administrator making $75,000 per year and Barbara is not employed outside of the home. The Castles' net worth is approximately $190,000. They have three kids, aged 6, 10, and 14. You have determined that the Castles currently have adequate life, health, auto, and homeowner's insurance. Which of the following forms of insurance is likely to fulfill their highest priority risk management need? Answer a. supplemental major medical insurance b. long-term care insurance c. disability income insurance d. additional life insurance e. critical illness insurance 3) Gabe is 58 years old and has been dependent on a cane for a couple of years. Gabe fears that he may need long-term care services some day in the future. His net worth is $400,000 and he receives $50,000 per year in a pension. He considers himself to be in excellent health and has never had a serious health scare like a heart attack, stroke, or cancer. He eats lots of bran and exercises regularly. Which of the following policies would you recommend to Gabe? Answer a. Gabe should buy a long-term care policy with a five-year limit, short elimination period without a COLA. b. Gabe should buy a long-term care policy with a long elimination period, lifetime benefits, and a COLA. c. Gabe needs a disability income policy. d. Gabe can qualify for Medicaid if and when he needs long-term care services. e. Gabe doesn't need disability insurance and probably can't qualify for long-term care insurance. 4) A comprehensive health insurance usually covers the cost of anesthetics and their administration. Answer True or False 5) Long-term health care [does | does not] have a deductible. 6) Premiums for Workers Compensation are paid by the [employees | employers]. 7) Which of the following best describes a custodial care facility? Answer a. custodial care is best provided in a hospital where surgical facilities are always available. b. a place that provides regular assistance with such activities as transferring someone from a bed to a chair, or helping them take a bath or get dressed. c. a place with licensed medical professionals that assist residents regularly with medically necessary care. d. a place that provides assistance in the normal activities of daily living but no medical attention or supervision. e. a place that provides regular assistance with chronic health conditions that are acute in nature. 8) Which of the following is not a desirable feature in a long-term care policy? Answer a. coverage for Alzheimer's disease b. duration of benefits of 6 years c. coverage for preexisting conditions d. inflation protection e. optional renewability clause 9) Supplementary Medical Insurance is a voluntary participatory program, commonly known as Medicare Part B. Answer True or False 10) Health Maintenance Organizations (HMOs) provide pre-paid health care to participants. Answer True or False
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