Multiple Choice
Identify the
choice that best completes the statement or answers the question.
|
|
|
1.
|
A widower, age 69 owns a home valued at $800,000 with no liens or
mortgage. He receives Social Security and a small pension from the Veteran’s
Administration. If he were to apply to Medicaid for LTC, he would be:
a. | ineligible, he has too much equity in his home | b. | immediately
eligible, his home is exempt and his income is low | c. | might be ineligible, his income is too
high | d. | must obtain a reverse mortgage on his home and make up the difference in cost of care
before Medicaid will pay |
|
|
|
2.
|
Under the DRA, Medicaid imposes a look back period on asset transfers of
a. | 24 months | b. | 36 months | c. | 48
months | d. | 60 months |
|
|
|
3.
|
Asset transfers for less than fair market value (gifts, bargain sales, etc.)
will be subject to which of the following under Medicaid’s look back rules?
a. | penalty period | b. | disallowance of the
transfer | c. | 10% penalty on the difference between fair market value and transfer
value | d. | all of the above |
|
|
|
4.
|
Carla gave $30,000 to each of her three children. One year later, Carla
applies to Medicaid for assistance in paying for nursing home care. The state’s average
nursing home costs are $4,500 per month. Assuming Carla qualifies for Medicaid, Medicaid will
pay Carla’s long-term care costs:
a. | immediately | b. | beginning in 6 months | c. | beginning in 10
months | d. | beginning in 20 months |
|
|
|
5.
|
All of the following 70-year-olds are a good prospects for a reverse mortgage
EXCEPT:
a. | Dana, who is in poor health | b. | Martin, who has limited financial
means | c. |
Tom and Linda, who plan on residing in their home for the rest of their
lives |
d. | Molly, who is planning to move in the near future |
|
|
|
6.
|
All of the following are ways to obtain cash from the insurer of a life
insurance policy EXCEPT:
a. | viatical settlements | b. | accelerated benefits
provisions | c. | cash surrender | d. | policy loans |
|
|
|
7.
|
Which of the following sources of cash requires repayment:
a. | reverse mortgage | b. | home equity loan | c. | life insurance
policy loan | d. | all of the above |
|
|
|
8.
|
Approved nursing home expenses will be paid by Medicare:
a. | 0% for the first 20 days, all except $100 for the next 80 days, 100% of the last 20
days | b. | 100% for the first 20 days, all except copay for the next 80 days, 0% beyond 100
days | c. | all except the daily copay for the first 20 days, 100% of the next 80
days | d. | all except the daily copay for the first 80 days, 100% of remaining
days |
|
|
|
9.
|
A life settlement is closely related to:
a. | policy surrender | b. | policy loans | c. | accelerated
benefits | d. | viatical settlements |
|
|
|
10.
|
Which of the following is a non-countable asset in Medicaid’s eligibility
requirements?
a. | qualified retirement plans | b. | life insurance | c. | family burial
plot | d. | collectibles |
|
|
|
11.
|
All of the following are true regarding a personal residence in Medicaid
eligibility rules EXCEPT:
a. | if the Medicaid applicant is not applying for LTC benefits, the value of the home
does not count as an asset | b. | if the applicant moves out of the home into LTC
facilities the value of the home is counted regardless of value | c. | if the Medicaid
applicant is applying for LTC benefits, any home equity in excess of $100,000 counts as an
asset | d. | Medicaid can place a lien against the home, even if the home is not deemed
“countable” |
|
|
|
12.
|
In most states, Medicaid allows a long-term benefit applicant who is unmarried
to retain countable assets totaling:
a. | $1,500 | b. | $2,000 | c. | $3,000 | d. | $5,000 |
|
|
|
13.
|
The income rules for Medicaid eligibility will count all of the following
EXCEPT:
a. | earned income | b. | unearned income | c. | Social Security
benefits | d. | veteran pensions |
|
|
|
14.
|
The term “community spouse” refers to
a. | a married recipient of community-based LTC | b. | a married person
living in a community property state | c. | the spouse of a person residing in a nursing
home | d. | none of the above |
|
|
|
15.
|
The minimum monthly maintenance needs allowance (MMMNA) is:
a. | income a community spouse may retain and not trigger income eligibility rules of
Medicaid | b. | the maximum amount of income a Medicaid applicant may retain and still be eligible
for Medicaid LTC benefits | c. | the amount of income a nursing home resident
may retain for personal care needs such as toiletries of reading material | d. | none of the
above |
|
|
|
16.
|
Medicaid’s estate recovery system applies to assets of all deceased
Medicaid beneficiaries who received
a. | nursing home services | b. | home health care services | c. | community based
care | d. | all of the above |
|
|
|
17.
|
Federal guidelines require state Medicaid programs to provide which of the
following to eligible applicants?
a. | home health care services | b. | community based care
services | c. | nursing home care service | d. | all of the
above |
|
|
|
18.
|
The level of LTC care services available under Medicaid is
a. | less generous than available under Medicare | b. | the same as
available under Medicare | c. | more generous than available under
Medicare | d. | more or less generous depending on the state |
|
|
|
19.
|
Medicare Part A will provide all of the following forms of LTC EXCEPT
a. | home health care | b. | skilling nursing care | c. | occupational
therapies | d. | custodial care |
|
|
|
20.
|
Medicare Part A covers nursing home care only if
a. | the care is certified as medically necessary by a physician | b. | the patient has been
hospitalized for at least 3 days in the previous month | c. | skilled care is provided | d. | all of the above are
required for Medicare to cover nursing home care |
|