Which of the following entities must approve all medicare supplement advertisements? 1.federal association of insurers 2.consumer protection agency 3.insurance commissioner or director
Full Answer
Can a policy be advertised as a Medicare supplement?
( A policy may not be advertised as Medicare supplement, Medigap, or Medicare Wrap around unless the policy is in full compliance of the law under such labels. In this insurance, the insurer misrepresented the policy, which is an illegal practice) Which of the following entities must approve all Medicare supplement advertisements?
What are the marketing guidelines for Medicare Advantage?
The Marketing guidelines reflect CMS' interpretation of the marketing requirements and related provisions of the Medicare Advantage and Medicare Prescription Drug Benefit rules (Chapter 42 of the Code of Federal Regulations, Parts 422 and 423).
Who must provide a Medicare supplements Buyers Guide?
(Issuers of accident and sickness policies which provide hospital or medical expense coverage on the expense incurred or indemnity basis to the person eligible for Medicare by reason of age, must provide to that applicant a Medicare supplements Buyers Guide.
Can a 70-year-old apply for a Medicare supplement policy?
A 70-year-old individual who bought a Part B Medicare policy 2 months ago just began kidney dialysis treatments this week. The individual is now applying for a Medicare supplement policy, Which begins in 8 months.
Which of the following must an advertisement describing Medicare disclose?
An advertisement for a Medicare supplement insurance policy that provides for age step-rated premium rates based upon the policy year or the insured's attained age must disclose the rate increases and the times or ages at which the premium increases.
Which of the following entities must approve all continuing education courses in this state?
Which of the following entities must approve all continuing education courses in this state? All continuing education programs and courses must be approved by the Commissioner.
Who is ultimately responsible for the contents of insurance advertising?
All advertisements, regardless of by whom written, created, designed or presented, are the responsibility of the insurer whose policies are adver- tised — even if they aren't directly aware of them. Every insurer must maintain a system of control over the content, form and method of distribution of all advertisements.
How long must an insurer retain an advertisement?
How long must an insurer retain an advertisement for its long term care policies? The insurance company must retain all advertisments for at least three years from the data that the advertisement was first used.
Which entity is responsible for regulating continuing education requirements in South Carolina?
The South Carolina Department of Insurance only approves courses for the following lines of authority: Life/Health, Property/Casualty, and Ethics.
Which of the following entities has the authority to revoke a producer's license?
- Through its superintendent, has the authority to refuse to renew, revoke, or suspend the license of any insurance producer, insurance consultant or adjuster if, after notice and hearing, it is determined that the license has violated nay insurance law or regulation.
Who does NAIC Model regulation apply to?
Applies to all health plans, including grandfathered plans. The ACA, and the NAIC's Model Language set out the minimum standard of consumer protections; any state can enact laws that are more protective. For example, states could improve on this Model Language in the following ways: 1.
Which of the following entities is appointed to oversee the business of insurance and to ensure that the insurance laws of Wisconsin are enforced?
What are the commissioner's general duties and powers? The commissioner is responsible for administering and enforcing the insurance laws of Wisconsin.
What is the NAIC do?
The National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers.
When an insurance agency published an advertising brochure?
When an insurance agency published an advertising brochure, it emphasized the company's financial the company's financial stability and sound business practices.
How is advertising restricted regarding the guaranty association?
§ 41-4319 "Prohibited advertisement of insurance guaranty association act in commercial sales" No person, including an insurer, agent or affiliate of an insurer shall make, publish, disseminate, circulate or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated or ...
Which entity is responsible for regulating insurance advertising in New Jersey?
NJDOBI | Division of Insurance. The National Association of Insurance Commissioners (NAIC) is the organization of insurance regulators from the 50 states, the District of Columbia and U.S. territories. More information about New Jersey and the NAIC...
What are the Medicare marketing guidelines?
The Marketing guidelines reflect CMS' interpretation of the marketing requirements and related provisions of the Medicare Advantage and Medicare Prescription Drug Benefit rules (Chapter 42 of the Code of Federal Regulations, Parts 422 and 423).
Can Medicare Advantage and Prescription Drug Plans use one document?
The guidelines allow organizations offering both Medicare Advantage and Prescription Drug Plans the ability to reference one document when developing marketing materials.
What is Medicare marketing guidelines?
The Medicare Marketing Guidelines (MMG) implement the Centers for Medicare & Medicaid Services’ (CMS) marketing requirements and related provisions of the Medicare Advantage (MA, MA-PD ) (also referred to as Plan), Medicare Prescription Drug Plan (PDP) (also referred to as Part D Sponsor), and except where otherwise specified, Section 1876 cost plans (also referred to as Plan) rules, (i.e., Title 42 of the Code of Federal Regulations, Parts 422, 423, and 417). These requirements also apply to Medicare-Medicaid Plans (MMPs), except as modified or clarified in state-specific marketing guidance for each state’s demonstration. State-specific guidance is considered an addendum to the MMG. State-specific marketing guidance for MMPs will be posted to http://www.cms.gov/Medicare-
What is co-branding in Medicare?
Co-branding is defined as a relationship between two or more separate legal entities, one of which is an organization that sponsors a Medicare plan. Co-branding is when a Plan/Part D Sponsor displays the name(s) or brand(s) of the co-branding entity or entities on its marketing materials to signify a business arrangement. Co-branding arrangements allow a Plan/Part D Sponsor and its co-branding partner(s) to promote enrollment in the plan. Co-branding relationships are entered into independent of the contract that the Plan/Part D Sponsor has with CMS.
What is a Part D sponsor?
Plans/Part D Sponsors must ensure that materials developed by a third-party providing information on a subset of plan choices that lists, compares, or names available plans, must prominently display the following disclaimer on all materials:
What is a Part D call center?
Part D Sponsors must operate a toll-free pharmacy technical help call center or make available call support to respond to inquiries from pharmacies and providers regarding the beneficiary’s Medicare prescription drug benefit; inquiries may pertain to operational areas such as claims processing, benefit coverage, claims submission, and claims payment. This requirement can be accommodated through the use of on-call staff pharmacists or by contracting with the organization’s PBM during non-business hours as long as the individual answering the call is able to address the call at that time. The call center must operate or be available during usual business hours, which CMS interprets to mean during the entire period in which the Part D Sponsor’s network pharmacies in its plans’ service areas are open (e.g., Part D Sponsors whose pharmacy networks include twenty-four (24) hour pharmacies must operate their pharmacy technical help call centers twenty-four (24) hours a day as well).
What is a third party marketing organization?
Third-party marketing organizations are entities such as a Field Marketing Organization (FMO), General Agent (GA), or similar type of organization that has been retained to sell or promote a Plan’s/Part D Sponsor’s Medicare products on the Plan’s/Part D Sponsor’s behalf either directly or through sales agents or a combination of both.
What is a script in Medicare?
Informational scripts are designed to respond to beneficiary questions and requests and provide objective information about a plan or the Medicare program. Sales and enrollment scripts are intended to steer a beneficiary towards a plan or limited number of plans, or to enroll a beneficiary into a plan.
What is an educational event for Medicare?
Educational events are designed to inform Medicare beneficiaries about Medicare Advantage, Prescription Drug or other Medicare programs and do not include marketing (i.e., the event sponsor does not steer, or attempt to steer, potential enrollees toward a specific plan or limited number of plans).
What is Medicare Advantage?
2. medicare advantage is medicare provided by an approved health maintenance organization only
Why do insurance companies automatically increase premiums?
2.they automatically increase premiums to account for inflation
What is the Florida Health Insurance Coverage Continuation Act?
The Florida Health Insurance Coverage Continuation Act requires insurers that sell health plans to small employers to offer in those plans to elect to continue coverage, without providing evidence of insurability, to employees who lose their coverage and are unable to replace it.
Where to get a certificate of authority?
A) Obtain a certificate of authority from the insurance department
What is a multiple employer trust?
Multiple employer trust is a group of 10 or more employers who form a trust in order to maximize tax implications of providing certain types of benefits for their employees, particularly life insurance)