Medicare Supplement Insurance

Question 1

Standards for Marketing:

Answer 1

Fair and accurate comparisons by agents.
Guidelines to prevent overselling.
Formula to assess replacement policy benefits.
Mandatory notice on the first page of policy.

Question 2

Open Enrollment

Answer 2

Prohibition on denial or discriminatory pricing.
Eligibility within 6 months of Medicare Part B enrollment.

Question 3

Minimum Benefit Standards

Answer 3

Offer of basic core benefits (Plan A).
Uniformity in structure, language, and format

Question 4

Appropriateness of Recommended Purchase

Answer 4

Agents to assess suitability of coverage.
Prohibition on multiple policies for one insured

Question 5

Guaranteed Issue

Answer 5

6-month window after Medicare Part B enrollment.
Prohibition on denial, pricing discrimination, or exclusion based on pre-existing conditions

Question 6

Replacement

Answer 6

Application must inquire about existing Medicare Supplement policies.
Notice regarding replacement must be provided.
Waiver of time periods for pre-existing conditions if replacing policy was in force for 6+ months.