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Herman and Velma are trying to find a plan that will provide home health care, assisted living and custodial benefits as they become older. All of the following plans may provide the benefits they req... uire EXCEPT: A long term care policy with the appropriate options Medicare Part A & B A life insurance policy with a long term care rider An annuity with long term care waivers Correct Answer: Medicare Part A & B A variety of types of care are provided under a long-term care policy. All of the following are types of care generally provided EXCEPT: Intensive care Custodial care Skilled care Home health care Correct Answer: Intensive care Medicare Part C - also called Medicare Advantage Plans - came about as part of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. Which of the following is available under the Medicare Advantage program? Private fee-for-service plans Managed care plans Preferred Provider plans All of the above Correct Answer: All of the above When compared to a traditional IRA, a Roth has all of the following features EXCEPT: The contributions to a Roth IRA are limited annually Withdrawals from a Roth IRA are tax free if the owner follows certain rules. Any person can open a Roth IRA account The assets in a Roth IRA account accumulate tax free Correct Answer: Any person can open a Roth IA account What is meant by the term fully contributory? Premiums are paid entirely by the policyowner Premiums are paid the insured in an employer based group policy Premiums are paid entirely by the member in a non-employer group policy Premiums are paid by the group in non-employer group policies Correct Answer: Premiums are paid entirely by the member in a non-employer group policy [Show More]

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