Medically Needy Individuals Can Reduce Their Assets to the Medicaid

question 45

Multiple Choice

Medically needy individuals can reduce their assets to the Medicaid eligibility level by deducting medical expenses;this is called a/an:

• A) use tariff.
• B) spend down.
• C) expense equalization.
• D) medical expense payout.

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Definitions:

Average Fixed Cost

The total fixed costs of production divided by the quantity of output produced.

Marginal Cost

The change in total production cost that arises when the quantity produced is incremented by one unit.

Average Total Cost

The total cost of production divided by the number of units produced, which includes both fixed and variable costs.

Average Total Cost

The total cost divided by the number of goods or services produced, representing the per unit cost of production.