Final Exam Thorough Review

Another agent you know has engaged in misconduct that has been verified by the plan she represented. What sort of penalty might the plan impose on this individual? {Ans: The plan may withhold commission, require retraining, report the misconduct to a state department of insurance or terminate the contract.}Ms. Henderson believes that she will qualify for Medicare Coverage when she turns 65, without paying any premiums, because she has been working for 40 years and paying Medicare taxes. What should you tell her? {Ans: To obtain Part B coverage, she must pay a standard monthly premium, though it is higher for individuals with higher incomes.}Mrs. Lyons is in good health, uses a single prescription, and lives independently in her own home. She is attracted by the idea of maintaining control over a Medical Savings Account (MSA) but is not sure if the plan associated with the account will fit her needs. What specific piece of information about a Medicare MSA plan would it be important for her to know, prior to enrolling in such a plan? {Ans: All MSAs cover Part A and Part B benefits, but not Part D prescription drug benefits, which could be obtained