Question

Question 14 (1 point) With Medicaid, each state can set its own rules as long as they follow basic federal guidelines. True False Question 15 (2 points) Match the correct term with the correct description: Costs tied directly to procedures or patient encounters 1. Fixed cost 2. Variable cost Known costs such as rent. depreciation, facilities, and taxes.

Answer 1

1) TRUE

Medicaid offers health coverage to millions of Americans, and in many states, that coverage matches or even surpasses that of private health insurance. Medicaid is jointly funded by the federal government and state governments, but each state has the option to set its own rules and requirements for eligibility.

Eligibility requirements

The challenge of applying for Medicaid in a new state is that each state has its own requirements for eligibility, so just because you’re entitled to coverage in one state doesn’t mean it’s guaranteed in another. Medicaid eligibility hinges on three factors:

• Income level
• Level of assets
• Level of care requirements

The thresholds for income level and asset level eligibility are fairly similar across states. Level of care requirements, on the other hand, are more open to interpretation, so while you may qualify for Medicaid based on medical need in one state, that won’t necessarily hold true in another. Be sure to research the rules of the state to which you’re seeking relocation to ensure that your coverage will be able to continue.

2) VARIABLE COST - costs tied directly to procedures or patients encounters

FIXED COST- known costs such as rents,depreciation,facilities,and taxes

Variable costs are costs that change as the quantity of the good or service that a business produces changes. Variable costs are the sum of marginal costs over all units produced. They can also be considered normal costs.

fixed costs, indirect costs or overheads are business expenses that are not dependent on the level of goods or services produced by the business. They tend to be time-related, such as interest or rents being paid per month, and are often referred to as overhead costs.