Medicare: Statutes, Rules, and Regulations Pertaining to Medicare Supplement and Long-term Care || Well-Enlightened

Which of the following individuals is an appropriate customer for a Medicare supplement policy? correct answers Someone enrolled in both Part A and Part B of Medicare An insurer may exclude coverage for a preexisting condition on a Medicare Supplement policy for up to correct answers 6 months An insured has a LTC policy that has been in force for 3 months. In how many more months will the policy become incontestable on the grounds of misrepresentation alone? correct answers 21 months Every agent soliciting Medicare Supplements must provide a(n) correct answers Suitability Form Which of North Carolina's Medicare-Aid programs provides the greatest level of benefits? correct answers The MQB-Q Special Program for dual eligibles If an insurer collected $1 million worth of premiums on a certain class of individual Medigap policies, what amount must be returned to owners of those policies in the form of benefits? correct answers $650,000 If a LTC insurance policy does not cover a specified percentage of actual charges, insurers are required to offer inflation protection that allows benefits to increase at a rate of at least what percentage? correct answers 5% When a Medicare supplement policy is purchased during the open enrollment period, the policy must be issued regardless of correct answers Health Status What must the applicant receive in order to help improve the selection of coverage and help the buyer fully understand Medicare? correct answers Informational Brochure (Buyers guide) How often must insurers in North Carolina file their Medicare supplement policy rates and rating schedules with the Commissioner? correct answers Annually A long-term care insurance policy issued in North Carolina cannot exclude coverage or limit benefits for which of the following? correct answers Alzheimer's Disease Which of the following is a non-countable asset in determining Medicaid eligibility? correct answers $350,000 of home equity When selling a long-term care insurance policy, the insurer or agent must provide the applicant with all of the following EXCEPT: correct answers Suitability Guide Agent J and T are meeting to discuss Medicare supplement policies. At what point must Agent J give T an outline of coverage? correct answers When T applies for a policy