Ohio Insurance Laws and Regulations Practice Exam

What must a Medicare supplement policy's outline of coverage include?

1. List of network hospitals

2. Description of policy benefits

3. Premium calculation method

4. List of covered medications

The correct answer is: Description of policy benefits

A Medicare supplement policy's outline of coverage must include a detailed description of the policy benefits in order to provide consumers with a clear understanding of what is covered under the policy. Listing network hospitals and covered medications does not provide a thorough explanation of policy benefits and may only confuse consumers. Additionally, including the premium calculation method is not necessary for consumers to understand what is covered under the policy. Overall, the most important aspect of a Medicare supplement policy's outline of coverage is providing a comprehensive description of the benefits in a clear and understandable manner.