Exam 7: Government-Mandated Social Security Programs

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

In 2012,what was the average monthly disability benefit for all disabled workers? (Disability Benefit Amount Determination)

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,Eligibility)

In 2012,approximately,what was the average monthly survivor benefit for a widowed and two children? (Survivor Benefit Amount Determination)

Based on the 2012 report,the projected date of the Medicare trust fund exhaustion is 2035. (Financial Status of the OASDI and Medicare Programs)

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

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

In general,an employee must earn at least 30 credits to be eligible to receive retirement benefits. (Qualifying for OASDI Benefits)

The Medicare tax is subject to a taxable wage base. (Medicare Programs)

Social Security retirement funds are expected to remain sustainable in the coming decades. (Financial Status of the OASDI and Medicare Programs)

Self-employed individuals must pay a FICA rate that is twice as much as a factory worker has to? (Financing OASDI and Medicare Programs)

At what age are retirees first eligible for Social Security benefits? (Old-Age Benefits,Eligibility Criteria)

Which of the following statements is not true regarding individuals who possess Medicare coverage and simultaneously receive health insurance benefits from another health insurance plan? (Medicare as the Primary or Secondary Payer)

The Social Security Administration increases retirement benefits by a designated percentage for each month worked beyond full retirement until age 70. (Old-Age Benefits,Eligibility Criteria)

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

What is the amount of contribution employer and employees must make to the Medicare tax which supports Medicare Part A? (Medicare Programs)

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

Most states pay regular unemployment benefits for how long? (Unemployment Insurance Benefit Amounts)

The Social Security Administration pays monthly survivor benefits at a level ranging from 71.5% to 75% of the primary insurance amount. (Survivor Benefit Amount Determination)

What is donut hole? Explain. (Medicare Prescription Drug Benefit)