State RegulationsNY specificDifficulty 1/5
The Medicare supplement disclosure statement required in New York must include which of the following?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Under New York's Medicare supplement disclosure requirements, the disclosure statement consists of a cover page, premium information, disclosure pages, and charts displaying the features of each benefit plan offered by the issuer, and it must state that neither the issuer nor its agents are connected with Medicare. The charts let applicants compare standardized plans and premiums side by side, and the disclaimer prevents confusion between private supplement coverage and the federal Medicare program.
Why the other options are wrong
- A) No premium guarantee appears in the disclosure; Medicare supplement policies are guaranteed renewable, and premiums may be revised on a class basis.
- C) A Medicare supplement policy fills gaps in Medicare; it does not replace the applicant's Medicare coverage or take over its payments.
- D) A medical questionnaire is not part of the disclosure statement; the statement is designed for plan and premium comparison.
Memory hook
Medigap disclosure: cover page, premiums, plan charts, and 'not connected with Medicare.'