SOLVED

21) This Medicare Plan was established with the passage of the Balanced Budget Act of 1997 as an alternative to the original program (parts A and B). A) Medicare Select B) Medicare Prescription Drug Program C) Medicare Advantage D) Medigap 22) Which Medicare plan allows enrollees to use medical savings accounts? A) Medicare Advantage B) Medigap C) Medicare Select D) Medicare Prescription Drug Program 23) Medicare Prescription Drug Program will cover how much of Silvia’s prescription costs after she meets the initial $325 deductible? A) 60% B) 75% C) 90% D) 50% 24) Thelma is on the Medicare Prescription Drug Program and has just spent over $4,750 out-of-pocket on medications. How much of the prescription costs will Medicare now cover for her? A) 67% B) 100% C) 50% D) 95% 25) Which one of the following is a wrong belief regarding the Social Security System in the United States? A) The viability of Social Security programs has been a subject of heated debates between Democrats and Republicans across the country. B) The Social Security taxes paid by today’s workers and their employers are used to pay the benefits for today’s retirees and other beneficiaries. C) Social Security taxes paid by employees and their employers are held in interest-bearing accounts set aside by the federal government to meet their own future retirement income needs. D) The Social Security System is a pay-as-you-go system. 26) MomPop’s General Store can avoid paying workers’ compensation taxes if it keeps its staff to less than how many employees? A) 12 B) 50 C) 100 D) 25 27) What is the only state where employers are not required to fund workers’ compensation programs? A) Michigan B) New York C) Texas D) Oregon 28) Under the Family and Medical Leave Act, how many hours would Pierre have had to work in the previous 12 months in order for him to take time off to care for his wife and new child? A) 1,000 B) 1,250 C) 1,600 D) 800 29) Due to the fact that the costs of benefits has risen so dramatically in recent years, the majority of the companies decided to finance discretionary benefits using A) noncontributory financing. B) contributory financing. C) employee-financed benefits. D) employer-financed benefits. 30) Mary works at a pharmaceutical company as a customer service representative. Her employer allows her to choose the set of benefits she will receive on top of preestablished sets of benefits, such as medical insurance and term life insurance. The company gave her credits equal to 6% of her salary with which she decided to purchase dental and vision insurance. This pharmaceutical company uses what kind of benefits plan? A) cafeteria plan B) flexible benefits plan C) employee-financed plan D) core plus option plan