State RegulationsIL specificDifficulty 2/5
Which statement about disclosure standards for Illinois Medicare supplement policies is correct?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Illinois Medicare supplement disclosure rules, administered through 50 Ill. Adm. Code 2008 under the statutory framework of 215 ILCS 5/363 and 215 ILCS 5/363a, are built to make sure applicants understand what the policy adds to Medicare and that it does not duplicate coverage Medicare already provides. The Illinois Department of Insurance enforces these disclosure standards so consumers can compare Medicare supplement coverage accurately before buying.
Why the other options are wrong
- A) The disclosure standards apply to Medicare supplement applicants generally; they are not confined to applicants over age 80.
- C) Disclosure under the Illinois Medicare supplement rules goes beyond the application and includes the policy-specific disclosures required by 50 Ill. Adm. Code 2008.
- D) Federal law does not displace Illinois disclosure standards; 215 ILCS 5/363 and 50 Ill. Adm. Code 2008 impose state requirements on these policies.
Memory hook
Disclose the gap: Med supp adds to Medicare, it never doubles it.