Chapter 22, Health Insurance for the Elderly Video Solutions, Fundamentals of Risk and Insurance

Problem 1

What arguments would you offer to support the decision to adopt the Medicare Advantage provisions of Medicare? What arguments would you offer to oppose the decision?

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02:06

Problem 1

Identify and briefly distinguish between Part A and Part B of the traditional Medicare program.

Alejandro Ruiz

Numerade Educator

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Problem 2

Under what circumstances would you recommend a Medicare Medical Savings Account to a person eligible for Medicare? For which persons would a Medicare MSA be inadvisable?

James Kiss

Numerade Educator

02:06

Problem 2

Explain the relationship between Medicare and employer-provided health insurance for employees who are age 65 and over.

Alejandro Ruiz

Numerade Educator

02:30

A noted insurance authority has said, "Because the financing of longterm care is inconsistent with insurance principles, it is a problem that does not lend itself to solution through insurance." In what ways is the financing of long-term care inconsistent with insurance principles? What, in your opinion, is the solution to the problem of financing long-term care?

Xiaomin Bian

Numerade Educator

02:06

Problem 3

Describe the changes in Medicare that were enacted as Part C, Medicare Advantage. In what fundamental way does Medicare Advantage differ from the coverage under the traditional Medicare program?

Alejandro Ruiz

Numerade Educator

05:31

Problem 4

"Medicaid planning represents a fraud on one's fellow taxpayers. It is asking me to pay your bills so you can leave your money to your children." Do you agree or disagree? Why?

Md.Daniyal Arshad

Numerade Educator

02:06

Problem 4

Your father and mother will soon reach age 65 , the age at which they will become eligible for Medicare. They have asked you to advise them on the advantages and disadvantages of a Medicare Medical Savings Account. Describe the essential nature of a Medicare MSA and explain to them what you consider to be the advantages and disadvantages of these plans.

Alejandro Ruiz

Numerade Educator

Problem 5

To what extent do you believe that the cost of medical care for the aged is at the heart of the difficulties facing the nation with respect to financing health care expenses?

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Problem 5

Explain how life insurance policies can provide an alternative to long-term care insurance.

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Problem 6

Explain the triggers that may be included in a long. term care insurance policy to determine eligibility for policy benefits.

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Problem 7

Periodic surveys have indicated a significant misunderstanding on the part of the public concerning the benefits available under Medicare to cover long-term care. What specific limitations in the Medicare benefit structure make Medicare an undependable source of funding for the long-term care exposure?

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Problem 8

Explain what is meant by a viatical settlement and the tax treatment of such transactions.

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02:06

Problem 9

Briefly explain the eligibility requirements for Medicaid as they apply to expenses for long-term care.

Alejandro Ruiz

Numerade Educator

Problem 10

Describe the coverage triggers required for a TQ-LTCI policy

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