Question 1

The original Medicare plan is a fee-for-service plan managed by the federal government.(Medicare)

Accepted Answer

A) True 
 B)False  True

Question 2

Funding for OASDI and Medicare programs requires equal employer and employee contributions under the _________.

Accepted Answer

A) Fair Labor Standards Act of 1938 
B) Federal Insurance Contributions Act 
C) The Social Security Act of 1935 
D) Titles III and IX of the Social Security Act
Essay Questions 
A) Fair Labor Standards Act of 1938 
B) Federal Insurance Contributions Act 
C) The Social Security Act of 1935 
D) Titles III and IX of the Social Security Act
Essay Questions B

Question 3

Briefly discuss Medicare Part A coverage.(Medicare Part A Coverage)

Accepted Answer

Main Points 
-Compulsory hospitalization insurance covers both inpatient and outpatient hospital care and services 
-Inpatient hospital care in a semiprivate room,meals,general nursing,and other hospital supplies and services 
-Home health services limited to reasonable and essential part-time or intermittent skilled nursing care and home health aide services,and physical therapy,occupational therapy,and speech-language pathology ordered by a doctor 
-Hospice care for people with terminal illness (that is,illness that is expected to lead to death within six months),including pharmaceutical products for symptom control and pain relief,medical and support services from a Medicare-approved hospice provider,and other services not otherwise covered by Medicare (for example,grief counseling)
-Skilled nursing facility care,including semiprivate room,meals,skilled nursing and rehabilitative services,and supplies for up to 100 days per year

Question 4

Medicare Part A only covers outpatient hospital care and services.(Medicare Part A Coverage)

Accepted Answer

A) True 
 B)False

Question 5

Coverage rules are the same across OASDI,Medicare,and the unemployment insurance programs.(Employers Required to Participate in Social Security Programs)

Accepted Answer

A) True 
 B)False

Question 6

The Social Security Administration is the only federal agency overseeing Social Security programs.(Administration of Social Security Programs)

Accepted Answer

A) True 
 B)False

Question 7

The largest share of the FICA tax funds OASDI programs.(Financing OASDI and Medicare Programs)

Accepted Answer

A) True 
 B)False

Question 8

Medigap insurance supplements Medicare Parts A & B and is available from private insurance companies.(Medigap Insurance)

Accepted Answer

A) True 
 B)False

Question 9

Medicare Part D was established by the Medicare Prescription Drug Improvement and Modernization Act of 2003.(Medicare Prescription Drug Benefit)

Accepted Answer

A) True 
 B)False

Question 10

Part A coverage automatically qualifies an individual to enroll in Part B coverage for a monthly premium.(Eligibility Criteria for Medicare Benefits)

Accepted Answer

A) True 
 B)False

Question 11

The Unemployment Compensation Act of 2008 expanded the EUC benefits to 20 weeks nationwide.(Unemployment Insurance Benefit Amounts)

Accepted Answer

A) True 
 B)False

Question 12

Medicare Select plans are Medigap policies that present higher premiums.(Medigap Insurance)

Accepted Answer

A) True 
 B)False

Question 13

Social Security pays only for total disability.(Disability Benefits)

Accepted Answer

A) True 
 B)False

Question 14

Social Security disability benefits are available to disabled workers who are unable to work as a result of a serious medical impairment that lasts at least 12 months.(Disability Benefits)

Accepted Answer

A) True 
 B)False

Question 15

Which of the following are not covered by Medicare Part B? (Medicare Part B Coverage)

Accepted Answer

A) Outpatient care 
B) Hospitalization 
C) Laboratory services 
D) Health screenings 
A) Outpatient care 
B) Hospitalization 
C) Laboratory services 
D) Health screenings

Question 16

The state share of unemployment taxes may be used only for benefit costs.(Administration of Social Security Programs)

Accepted Answer

A) True 
 B)False

Question 17

OASDI taxes are subject to a taxable wage base.What was the taxable wage base for everyone in 2016? (Financing OASDI and Medicare Programs)

Accepted Answer

A) $80,100 
B) $118,500 
C) $120,100 
D) $140,100 
A) $80,100 
B) $118,500 
C) $120,100 
D) $140,100

Question 18

The state unemployment employer tax rate varies according to ______ system.(Unemployment Insurance Benefit Amounts)

Accepted Answer

A) an experience rating 
B) a duration of work 
C) an average indexed monthly earnings 
D) a fully insured 
A) an experience rating 
B) a duration of work 
C) an average indexed monthly earnings 
D) a fully insured

Question 19

Describe how OASDI and Medicare programs are financed.(Financing OASDI and Medicare Programs)

Accepted Answer

Main Points: 
-Funding for OASDI and Med

Question 20

Which of the following is not one of the factors believed to have hastened the deterioration of the OASDI and Medicare trust funds? (Financing OASDI and Medicare Programs)

Accepted Answer

A) longer life expectancy 
B) increased insurance claims 
C) high levels of unemployment 
D) immigration 
A) longer life expectancy 
B) increased insurance claims 
C) high levels of unemployment 
D) immigration

The original Medicare plan is a fee-for-service plan managed by the federal government.(Medicare)

Funding for OASDI and Medicare programs requires equal employer and employee contributions under the _________.

Briefly discuss Medicare Part A coverage.(Medicare Part A Coverage)

Medicare Part A only covers outpatient hospital care and services.(Medicare Part A Coverage)

Coverage rules are the same across OASDI,Medicare,and the unemployment insurance programs.(Employers Required to Participate in Social Security Programs)

The Social Security Administration is the only federal agency overseeing Social Security programs.(Administration of Social Security Programs)

The largest share of the FICA tax funds OASDI programs.(Financing OASDI and Medicare Programs)

Medigap insurance supplements Medicare Parts A & B and is available from private insurance companies.(Medigap Insurance)

Medicare Part D was established by the Medicare Prescription Drug Improvement and Modernization Act of 2003.(Medicare Prescription Drug Benefit)

Part A coverage automatically qualifies an individual to enroll in Part B coverage for a monthly premium.(Eligibility Criteria for Medicare Benefits)

The Unemployment Compensation Act of 2008 expanded the EUC benefits to 20 weeks nationwide.(Unemployment Insurance Benefit Amounts)

Medicare Select plans are Medigap policies that present higher premiums.(Medigap Insurance)

Social Security pays only for total disability.(Disability Benefits)

Social Security disability benefits are available to disabled workers who are unable to work as a result of a serious medical impairment that lasts at least 12 months.(Disability Benefits)

Which of the following are not covered by Medicare Part B? (Medicare Part B Coverage)

The state share of unemployment taxes may be used only for benefit costs.(Administration of Social Security Programs)

OASDI taxes are subject to a taxable wage base.What was the taxable wage base for everyone in 2016? (Financing OASDI and Medicare Programs)

The state unemployment employer tax rate varies according to ______ system.(Unemployment Insurance Benefit Amounts)

Describe how OASDI and Medicare programs are financed.(Financing OASDI and Medicare Programs)

Which of the following is not one of the factors believed to have hastened the deterioration of the OASDI and Medicare trust funds? (Financing OASDI and Medicare Programs)

Introducing Employee Benefits

The Psychology and Economics of Employee Benefits

Regulating Employee Benefits

Employer-Sponsored Retirement Plans

Employer-Sponsored Health-Care Plans

Employer-Sponsored Disability Insurance, life Insurance, and Workers Compensation

Paid Time-Off and Flexible Work Schedule Benefits

Accommodation and Enhancement Benefits

Managing the Employee-Benefits System

Nonqualified Deferred Compensation Plans for Executives

Global Employee Benefits at a Glance

Filters

Exam 7: Government-Mandated Social Security Programs

The original Medicare plan is a fee-for-service plan managed by the federal government.(Medicare)

Funding for OASDI and Medicare programs requires equal employer and employee contributions under the _________.

Briefly discuss Medicare Part A coverage.(Medicare Part A Coverage)

Medicare Part A only covers outpatient hospital care and services.(Medicare Part A Coverage)

Coverage rules are the same across OASDI,Medicare,and the unemployment insurance programs.(Employers Required to Participate in Social Security Programs)

The Social Security Administration is the only federal agency overseeing Social Security programs.(Administration of Social Security Programs)

The largest share of the FICA tax funds OASDI programs.(Financing OASDI and Medicare Programs)

Medigap insurance supplements Medicare Parts A & B and is available from private insurance companies.(Medigap Insurance)

Medicare Part D was established by the Medicare Prescription Drug Improvement and Modernization Act of 2003.(Medicare Prescription Drug Benefit)

Part A coverage automatically qualifies an individual to enroll in Part B coverage for a monthly premium.(Eligibility Criteria for Medicare Benefits)

The Unemployment Compensation Act of 2008 expanded the EUC benefits to 20 weeks nationwide.(Unemployment Insurance Benefit Amounts)

Medicare Select plans are Medigap policies that present higher premiums.(Medigap Insurance)

Social Security pays only for total disability.(Disability Benefits)

Social Security disability benefits are available to disabled workers who are unable to work as a result of a serious medical impairment that lasts at least 12 months.(Disability Benefits)

Which of the following are not covered by Medicare Part B? (Medicare Part B Coverage)

The state share of unemployment taxes may be used only for benefit costs.(Administration of Social Security Programs)

OASDI taxes are subject to a taxable wage base.What was the taxable wage base for everyone in 2016? (Financing OASDI and Medicare Programs)

The state unemployment employer tax rate varies according to ______ system.(Unemployment Insurance Benefit Amounts)

Describe how OASDI and Medicare programs are financed.(Financing OASDI and Medicare Programs)

Which of the following is not one of the factors believed to have hastened the deterioration of the OASDI and Medicare trust funds? (Financing OASDI and Medicare Programs)

Introducing Employee Benefits

The Psychology and Economics of Employee Benefits

Regulating Employee Benefits

Employer-Sponsored Retirement Plans

Employer-Sponsored Health-Care Plans

Employer-Sponsored Disability Insurance, life Insurance, and Workers Compensation

Paid Time-Off and Flexible Work Schedule Benefits

Accommodation and Enhancement Benefits

Managing the Employee-Benefits System

Nonqualified Deferred Compensation Plans for Executives

Global Employee Benefits at a Glance

Filters