Exam 18: Social Insurance

Which of the following statements about the financing of OASDI and Medicare is (are)true? I.There is a maximum taxable wage base for OASDI. II.There is a maximum taxable wage base for Part A of Medicare.

Tony is 48 years old.He earned the maximum taxable wage base under Social Security annually between the time when he was 26 and when he was 40.At age 40,he dropped out of the workforce to care for children as his wife had a high-paying job.Which statement is true regarding Tony's insured status under Social Security?

All of the following changes would reduce the long-range deficit for the Social Security program EXCEPT

As an alternative to the Original Medicare Plan,beneficiaries can elect to enroll in private health insurance plans that cover all services that the Original Medicare Plan covers except hospice care.These private health insurance plans that are an alternative to the Original Medicare Plan are called

Under the Medicare Prescription Drug Program,a coverage gap (also called a "donut hole")exists after the beneficiary and drug plan pay a certain amount for covered drugs.The coverage gap refers to

Marco,a risk manager in California,is interviewing for a new position in the state of Washington.When Marco asked about methods of providing workers compensation,the answer surprised him.In Washington,employers can self-insure the risk or obtain coverage through a state fund.Private insurers do not market workers compensation insurance in Washington.Washington uses a

Frank is doing some life insurance planning.A financial advisor said,"be sure to consider Social Security when examining sources of funds available for family support if you die." The financial advisor was referring to which Social Security benefit?

In addition to most persons over age 65,which of the following persons is (are)eligible for Medicare benefits? I.Persons under age 65 who have been entitled to Social Security disability benefits for at least 24 months II.Persons under 65 who need long-term kidney dialysis treatment or a kidney transplant

Beth was injured at work and is eligible to receive workers compensation benefits.All of the following benefits are provided under workers compensation EXCEPT

An important current issue in state workers compensation programs is the overuse of a certain category of pain-killing drugs.These drugs have been associated with drug overdoses and drug addiction.This category of drugs is called

All of the following persons are eligible for a benefit under the retirement portion of the Social Security program EXCEPT

Which of the following is a reason that social insurance programs exist?