What is guaranteed when a Medicare supplement policy is purchased during the open enrollment period?

When a Medicare supplement policy is purchased during the open enrollment period, the guarantee provided is that the policy must be issued regardless of the applicant's health status. This means that insurers cannot deny coverage or impose any pre-existing condition exclusions based on the applicant's medical history or current health conditions during this designated time. The open enrollment period typically lasts for six months after an individual turns 65 and enrolls in Medicare Part B.

This provision is a critical consumer protection measure designed to ensure that elderly individuals have access to necessary supplementary health insurance without being discriminated against due to their health. It's essential for these individuals, who may have significant healthcare needs, to obtain coverage without facing barriers related to pre-existing conditions or health evaluations.

The incorrect choices relate to scenarios that do not apply during the open enrollment period. Denying a policy based on age, imposing waiting periods, or charging higher premiums based on age do not align with the protections offered during this specific enrollment timeframe.