Medicare supplement (Medigap) plans in Oklahoma, as regulated by federal law (42 CFR § 422.74) and state law (Title 36 O.S. § 6217), are guaranteed renewable, meaning insurers cannot cancel them except for specific reasons, such asnonpayment of premiums. Cancellation requires notice to the policyholder, and nonpayment is the primary valid cause.
Option A: Incorrect. Medigap plans cannot be canceled at any time; they are guaranteed renewable.
Option B: Incorrect. The enrollment period is for purchasing, not canceling, Medigap plans.
Option C: Incorrect. Cancellation is not tied to a date specified in the policy unless related to nonpayment.
Option D: Correct. Insurers can cancel a Medigap plan after nonpayment of premiums.
This question aligns with the Prometric content outline under “Medicare,” which covers Medigap policy regulations.
[:, Prometric Oklahoma Life, Accident, and Health or Sickness Producer Exam Content Outline (Section: General Knowledge – Medicare)., Oklahoma Insurance Department, Title 36 O.S. § 6217 (Medicare supplement insurance)., CMS, 42 CFR § 422.74 (Medigap cancellation rules)., ]
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