Which of the Following Statements Is True About the Means

question 134

Multiple Choice

Which of the following statements is true about the means (income) testing for Medicare?

• A)there are strictly enforced income limits that are based on federal standards but may vary slightly by state.
• B)limits apply to the amount of counted assets individuals can have, but they are routinely overlooked.
• C)means testing is intended to ensure that only the truly needy get access to Medicare.
• D)there is an asset test and an income test.
• E)Medicare is not income tested.

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Definitions:

Payment

The transfer of money, goods, or services in exchange for goods, services, or both, as part of a transaction.

Conditional Sales Agreement

A sales contract in which the buyer takes possession of the item immediately but does not gain ownership until the full price is paid.

Equity Of Redemption

The equitable right of a mortgagor to acquire the title to the mortgaged property by payment of the debt secured by the mortgage.

Arrears

A state of being behind in fulfilling obligations, such as payments on a loan, rent, or utilities.