1. At what age do most people first become eligible to enroll in Medicare?
A. 59-1/2
B. 62
C. 65
D. 70
2. Which of these statements accurately reflects the costs of Medicare?
A. There are costs to participate in Part A of Medicare coverage for most people
B. Most forms of Medicare coverage will require you to pay a premium and face out-of-pocket expenses
C. You can delay Medicare for as long as you like with no penalty
D. Medicare is free, and you won’t have any healthcare expenses in retirement
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3. How much can the average 65-year-old couple retiring now expect to pay in healthcare costs during retirement, not including long-term care?
1
A. More than $380,000
B. About $240,000
C. Less than $150,000
D. More than $500,000
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4. If you’ve accumulated money in a Health Savings Account (HSA), in which of the following ways can that money be spent in retirement without incurring taxes on withdrawals?
A. Purchasing prescription drugs
B. Paying Medicare premiums
C. Covering deductibles and co-pays
D. All of the above
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5. Which of the following is a feature of Medicare Advantage policies?
A. You can own such a policy before you reach traditional Medicare enrollment age
C. There are no deductibles or co-pays required
B. You can choose from a variety of plans and change plans at least annually
D. You are also required to participate in traditional Medicare plans
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6. Which of the following can help in offsetting the costs of long-term care services, such as in-home or nursing home care?
A. Medicare
B. A Medicare Supplement policy
C. Long-term care insurance
D. A Medicare Advantage policy
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