Under the Medicare Prescription Drug Program, a coverage gap (also called a "donut hole") exists after the beneficiary and drug plan pay a certain amount for covered drugs. The coverage gap refers to
A) the large, up-front deductible that must be satisfied if the patient has a prescription for a covered brand-name drug.
B) the temporary gap in coverage that begins when the beneficiary and drug plan pay a certain amount for covered drugs during the year and ends when the catastrophic limit is reached and coverage resumes.
C) the temporary gap in coverage that begins after beneficiaries reach the lifetime limit on catastrophic drug expenses and ends when a new deductible is met and coverage resumes.
D) the temporary gap in coverage that begins when prescription benefits terminate for beneficiaries who attain age 68 and resumes when beneficiaries attain age 72.
Answer: B
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Statute of Frauds. Monetti, S.P.A., is an Italian firm that makes decorative plastic trays and related products for the food services industry. In 1981, Monetti set up a wholly owned subsidiary, Melform U.S.A., to market its products in the United
States. In 1984, after orally agreeing with Anchor Hocking Corp (Anchor) that Anchor would become the exclusive U.S. distributor of Monetti products, Monetti terminated all of Melform's current distributors and informed all of Melform's customers that Anchor would be the exclusive distributor of its products in the future. Relations between Monetti and Anchor Hocking deteriorated over the next several months, and eventually Monetti sued for breach of contract. Anchor contended that their contract was unenforceable under the Statute of Frauds. Although their agreement had never been reduced to a writing, at one point Raymond Davis, the marketing director of Anchor, summarized the terms of the agreement in a memorandum on Anchor's letterhead that was sent to Anchor's law department. The memo included some handwritten notes by Davis, which, Davis stated, represented "more clearly our current position regarding the agreement." Will the memorandum signed by Davis constitute a sufficient writing under the UCC Statute of Frauds provisions? Discuss.
Which of the following barriers to communication prevents understanding of a message because one thing was said and another was understood?
A) Differing interpretations B) Using unfamiliar words C) Emotional or physical distractions D) Missing the meaning
Carmen has been employed at a food processing plant for over 35 years. She loves the work and the people, so the company's policy forcing her to retire when she turns 60 next year makes her sad
Recently, however, a friend said she is protected by law and can't be forced to retire. What law protects Carmen? A) Sarbanes-Oxley Act B) Civil Rights Act C) Age Discrimination in Employment Act (ADEA) D) Employee Retirement Income Security Act (ERISA) E) Worker Adjustment & Retraining Notification Act
All adjustments to the unadjusted cash balance on a bank reconciliation require adjusting entries; however, adjustments to the bank statement balance do not require adjusting entries.
Answer the following statement true (T) or false (F)