State RegulationsOH specificDifficulty 1/5
An Ohio Medicare supplement policy must carry a notice, prominently printed on the first page, that the policyholder may return the policy for a full premium refund within how many days of delivery if not satisfied for any reason?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
OAC 3901-8-08(T)(10)(e) requires the free-look notice to be prominently printed on the first page of a Medicare supplement policy, giving the policyholder or certificate holder the right to return the policy within 30 days of delivery for a full premium refund if not satisfied for any reason. Do not confuse this with the 10-day free look for individual sickness and accident policies under ORC 3923.31; the Medicare supplement period is 30 days.
Why the other options are wrong
- A) 10 days is the free-look period for individual sickness and accident policies under ORC 3923.31, not for Medicare supplement policies.
- B) 15 days is the viatical settlement rescission period in Ohio, not the Medicare supplement free look.
- C) 20 days is the NAIC-model replacement free look; Ohio's Medicare supplement free look is 30 days.
Memory hook
Med supp free look = 30 days, printed on page one.