What must a Medicare Supplement policy provide if applied for during the open enrollment period?

A Medicare Supplement policy must provide a guaranteed issue provision if applied for during the open enrollment period. This provision ensures that individuals have the right to buy a Medicare Supplement policy without being subjected to medical underwriting, meaning their pre-existing health conditions cannot be used as a reason to deny coverage or charge higher premiums.

The open enrollment period for Medicare usually begins when an individual turns 65 or when they first enroll in Medicare. During this time, anyone who applies for a Medicare Supplement policy is guaranteed acceptance, which is an important consumer protection feature. This allows beneficiaries to obtain the coverage they need without the fear of being turned away due to health issues, ensuring access to necessary healthcare services.

Other options do not have the same requirement. While minimum payment options, a lifetime coverage guarantee, and a free-look period may be beneficial features of some policies, they are not mandated for Medicare Supplement plans during the open enrollment period like the guaranteed issue provision is. This specific requirement is designed to protect consumers and promote greater accessibility to needed health insurance coverage.