Medicare and CMS
It is a contract between a company and a consumer
Health Insurance
Combinations of Part A and Part B
Medicare Advantage or Part C
True and False:
Since beneficiaries are enrolled in a plan for one calendar year, all drug spending is tracked and resets on a monthly basis
False
It is a federal health insurance program provided by the government.
Medicare
An internal employee who is licensed to sell insurance products and does so on behalf of the plan sponsor.
Agents
What are the four parts of Medicare?
Part A
Part B
Part C
Part D
How much is the TrOOP for this year?
$2,000
It is an assistance program funded by payroll taxes.
Medicaid
Insurance plans have?
Deductibles and Copay
Which Medicare part covers medical equipment?
Part B
What are the Three Coverage Levels of PDP Plans?
Deductible
Initial Coverage
Catastrophic Coverage
Who administers Medicare?
Centers for Medicare and Medicaid Services (CMS)
It is the amount members must pay out of pocket for health care or prescription drug coverage before the plan begins to pay.
Deductible
Original Medicare consists of?
Part A and Part B
What are the different Plan Costs shared in PDP Plans?
Premium
Deductible
Copayment
Coinsurance
How do individuals sign up for Medicare?
Via Railroad Retirement Board and Social Security Administration, also they automatically get Medicare when they turn 65 years old.
Give at least 5 Health Insurance Terminologies.
Agents and Brokers
Plan Sponsors and Providers
Beneficiaries and Members
Effective Dates
Benefit and Coverages
Premium and Deductibles
Copayment and Coinsurance
A part B coverage includes:
Outpatient hospital services
Doctor's Visits
Preventive Services
Clinical Lab Tests
Durable Medical Equipment
Beneficiaries who want to receive drug benefits must enroll with a prescription drug plans wither to a?
Stand Alon Prescription Drug Plans (PDP) or
Medicare Advantage = Prescription Drug Plans (MA-PD)
What's the difference between Medicare and Medicaid?
Medicare is an insurance program funded by the government while Medicaid is an assistance program funded by payroll taxes.