How Much Do You Know About Healthcare Costs?
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1. The penalty for not signing up for Part B when you're first eligible includes a 10% premium increase for every year you delay the enrollment. How many times do you pay the penalty?
Once, when you first enroll in Medicare Part B
Annually, for the rest of the time you're enrolled in Medicare Part B
2. If you don't use any prescriptions, you can save money by skipping enrollment in Part D since that coverage is optional.
3. Between 2000 and 2010, total out-of-pocket spending among beneficiaries increased by how much?
More than 100%
4. During the decade spanning 2000 - 2010 Medicare Part B premiums grew by how much?
5. In the most recent year for which data is available (2010), how much did the typical Medicare beneficiary spend in out-of-pocket premiums, deductibles, co-pays, and services not covered by Medicare?
6. In the years in which you have one hospital stay, how much more in total out-of-pocket costs should you budget for?
7. Hospital observation stays are covered under Medicare Part A hospital insurance.
8. Your Medicare Advantage plan can reject claims for services that Medicare requires them to cover.
9. Which of the following services does Medicare NOT cover?
All of the above
10. Which of the following is the most important method to keeping healthcare costs manageable?
Give up bad health habits
Re-evaluate plan options annually
Have Medicare coverage with low, or no deductibles or other out-of-pocket costs
Have Medicare coverage with low annual out-of-pocket maximums
All of the above
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