When must the Medicare supplement Buyer's Guide be presented?
When must the Medicare Supplement Buyer's Guide be presented? (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.
Does my insurance company have to issue a Medicare supplement policy?
( An insurance company must make available to each applicant a policy form offering the basic core benefits (Plan A) if it will offer any Medicare Supplement policies. An insurance company does not have to issue all or any of the plans B through N)
Can an agent tell an applicant that the policy is Medicare?
An agent tells an applicant that the policy is Medicare, since the policies are so similar anyway. Which of the following is true? ( 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.
What is Medicare Advantage?
Why do insurance companies automatically increase premiums?
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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.
When must an insurer provide a Medicare Supplement Buyer's Guide and an outline of coverage?
The insurer must provide a Medicare Supplement Buyer's Guide and an Outline of Coverage at the time of application. LTC policies may define a preexisting condition as: a condition for which advice or treatment was recommended or received within 6 months of the effective date of coverage.
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.
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 renewal provision must all Medicare supplement policies contain quizlet?
A continuation provision must include any reservation by the issuer of the right to change premiums and any automatic renewal premium increases based on the policy holders age.
When must a producer deliver the outline of coverage to a Medicare supplement applicant?
39.18(1) An outline of coverage shall be delivered to a prospective applicant for long-term care insurance at the time of initial solicitation through means which prominently direct the attention of the recipient to the document and its purpose.
What must an insurance company use in advertising?
Certain states require insurance advertisements to specify: (i) the full name and address of the insurer and (if advertising online) producer whose products are being offered; (ii) the relevant insurer's state of domicile and its principal place of business; and (3) insurer and/or producer's license number.
What must be disclosed when a producer advertises a life insurance policy?
Advertisements must be truthful and not misleading in fact or by implication. The form and content of an advertisement of a policy will be sufficiently complete and clear so as to avoid deception. It will not have the capacity or tendency to mislead or deceive.
Which statement would be prohibited in an accident and health advertisement?
A. Covered Benefits. (1) The use of deceptive words, phrases or illustrations in advertisements of accident and sickness insurance is prohibited. Drafting Note: This broad provision may be deleted if your state has enacted an Unfair Trade Practices Act that contains the same prohibitions.
Which of the following entities ultimately decides if an advertisement is complete and truthful?
Advertising regulations state that an advertisement shall be “truth- ful and not misleading in fact or by implication.” But who decides if an ad is truthful or misleading? The Commissioner of Insurance decides and it is important to consider that his/ her level of scrutiny can vary depend- ing upon the targeted market.
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...
Who is responsible for the contents of life insurance advertising?
Who is responsible for the contents of life insurance advertising? All advertisements are the responsibility of the insurer. 180 days. If a producer dies or is rendered disabled, a family member or an associate can enter in an agreement with another producer to continue the business.
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.
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)
Where to get a certificate of authority?
A) Obtain a certificate of authority from the insurance department
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 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