Arizona Life and Health Practice Exam

During the open enrollment period for a Medicare Supplement policy, which statement is true?

1. The policy may be denied based on pre-existing conditions

2. The policy will be issued regardless of health

3. The premium will vary based on health status

4. The coverage amount is limited by age

The correct answer is: The policy will be issued regardless of health

During the open enrollment period for a Medicare Supplement policy, individuals have certain protections that facilitate their access to coverage. The correct statement highlights that the policy will be issued regardless of health status. This means that during this designated time frame, applicants cannot be denied coverage due to pre-existing conditions or any other health-related issues. This period allows beneficiaries to enroll without worry about their medical history potentially affecting their ability to secure a policy. The open enrollment period is crucial because it offers a guaranteed issue right, ensuring that everyone who applies is accepted and that they cannot be charged higher premiums based on their health status. This is especially important for those with existing health conditions who may otherwise find it difficult to obtain insurance outside of this period. Understanding this period's protections is essential for beneficiaries as it can significantly impact their options for healthcare coverage.