Which of the following statements is not correct about Medicaid? Multiple Choice The Social Security Act created Medicaid in 1965. Medicaid is a program of medical assistance to certain low-income individuals and families. Medicaid is administered by each state within certain federal guidelines. Medicaid is financed by both state and federal funds. Medicaid is provided to wealthy individuals.

Which of the following statements is not correct about Medicaid? Multiple Choice The Social Security Act created Medicaid in 1965. Medicaid is a program of medical assistance to certain low-income individuals and families. Medicaid is administered by each state within certain federal guidelines. Medicaid is financed by both state and federal funds. Medicaid is provided to wealthy individuals.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter7: Tax Credits

Section: Chapter Questions

Problem 5MCQ: Which of the following is not a requirement to receive the premium tax credit for health care?...

See similar textbooks

Similar questions

Medicaid is provided to certain individuals and families with low income or resources. Which of the following items is not counted towards the income requirements? a. Housing assistance provided by the federal government O b. Social Security benefits O c. Pension Income O d. Veteran's benefits provided by the federal government.
What are the essential differences between social insurance and public assistance programs? Why is Medicare a social insurance program, whereas Medicaid is a public assistance program? Why is the earned-income tax credit considered to be a public assistance program?
What government programs are available to cover long-term care expenditures in the United States? How do the government programs affect the demand for private long-term care insurance by families who are currently ineligible for government-financed long-term care insurance?
What are the fundamental distinctions between social security and public assistance? Why is Medicare a kind of social insurance, whilst Medicaid is a form of public assistance? Why is the earned-income tax credit considered a kind of government assistance?
I need help getting the answers to the Social Security, Medicare, Vol. Withholding, and Net pay for #2!!!
medicaid is only for those under 65 who do not get Medicare? Can people have both Medicare and Medicaid?
Social Security System (SSS) contributions are required from the individuals who are employed in the public sector. True or False
45. Sandra and Bill, both 78, are Texas residents. Sandra participates in the state's Long- Term Care Partnership program; Bill, her neighbor, does not. Both are found eligible for Medicaid payment of their LTC services. Which of the following can Sandra do that Bill cannot? (Search Chapter 11) a. transfer designated resources to another individual without penalty ob. avoid having any of her monthly income applied to the cost of her LTC services OC. avoid Medicaid eligibility redetermination and reverification after initial eligibility od. designate her home as a protected countable asset
Indicate whether the statement is true or false, and justify your answer.In the 2010 American health reform law, one primary mechanism for financing the expansion of health insurance to the uninsured involves reducing planned Medicare expenditures.
Which of the following statements is correct? Multiple Choice Taxpayers with household income which is more than 400% of the Federal Poverty Level are eligible to claim the premium tax credit. The premium tax credit is only available when the taxpayer files his or her tax return. The premium tax credit is available only for premium health insurance programs. Taxpayers who receive a credit are not required to file a federal tax return.
Public pension funds are those funds administered by O A. federal, state, or local government (e.g., Social Security) B. A private company such as Apple O C.A self-employed individual, like your professor D. None of the above
Which of the following, when provided by an employer, is a tax-deferred or tax-free benefit for the employee? a. Premiums for private health care plans providing extended health coverage beyond a public plan b. Financial counselling services not connected to re-employment or retirement c. Group term life insurance policy d. A $200 cash gift for the employee's wedding