Medicare: Statutes, Rules, and
Regulations Pertaining to Medicare
Supplement and Long-term Care Exam
Which of the following individuals is an appropriate customer for a Medicare supplement
policy? - Answer -Someone enrolled in both Part A and Part B of Medicare
An insurer may exclude coverage for a preexisting condition on a Medicare Supplement
policy for up to - Answer -6 months
An insured has a LTC policy that has been in force for 3 months. In how many more
months will the policy become incontestable on the grounds of misrepresentation
alone? - Answer -21 months
Every agent soliciting Medicare Supplements must provide a(n) - Answer -Suitability
Form
Which of North Carolina's Medicare-Aid programs provides the greatest level of
benefits? - Answer -The MQB-Q Special Program for dual eligibles
If an insurer collected $1 million worth of premiums on a certain class of individual
Medigap policies, what amount must be returned to owners of those policies in the form
of benefits? - Answer -$650,000
If a LTC insurance policy does not cover a specified percentage of actual charges,
insurers are required to offer inflation protection that allows benefits to increase at a rate
of at least what percentage? - Answer -5%
When a Medicare supplement policy is purchased during the open enrollment period,
the policy must be issued regardless of - Answer -Health Status
What must the applicant receive in order to help improve the selection of coverage and
help the buyer fully understand Medicare? - Answer -Informational Brochure (Buyers
guide)
How often must insurers in North Carolina file their Medicare supplement policy rates
and rating schedules with the Commissioner? - Answer -Annually
A long-term care insurance policy issued in North Carolina cannot exclude coverage or
limit benefits for which of the following? - Answer -Alzheimer's Disease
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