Question

Which of the following is a TRUE statement regarding a Medicare supplement policy purchased during the open enrollment period?

A) Premiums are higher during the open enrollment period.
B) The insured must have a pre-existing condition to be eligible.
C) The insured has guaranteed issue rights.
D) The policy can be canceled at any time.

Answer 1

The true statement about a Medicare supplement policy during the open enrollment period is that the insured has guaranteed issue rights, ensuring they cannot be denied coverage due to health status, including pre-existing conditions.

Step-by-step explanation:

The true statement regarding a Medicare supplement policy purchased during the open enrollment period is that the insured has guaranteed issue rights. This means that during this period, an insurance provider cannot deny issuing a Medicare supplement policy based on the insured's health status, including pre-existing conditions. Open enrollment for Medicare supplement insurance begins on the first day of the month in which a person turns 65 and is enrolled in Medicare Part B, and lasts for six months. Premiums are not higher during this period, and there is no requirement for the insured to have a pre-existing condition to be eligible. Moreover, while the policy can usually be renewed as long as the premiums are paid, it cannot be canceled at any time without reason.