65. Laws have been enacted to prohibit cancellation of a Medicare supplement policy on the sole basis of age or deterioration of health. This requirement is called
Answer: A
Guaranteed renewability
This requirement is known as guaranteed renewability, which ensures that individuals cannot have their Medicare supplement policies canceled solely due to age or health deterioration.
A) guaranteed renewability.
This option is correct as it directly refers to the legal protection that allows policyholders to renew their Medicare supplement policies regardless of changes in age or health status. This concept aims to provide stability and security for individuals relying on these supplements for healthcare coverage.
B) guaranteed issue.
Guaranteed issue refers to the right of individuals to obtain a Medicare supplement policy without medical underwriting, but it does not specifically address the cancellation of existing policies. Therefore, while related to access to coverage, it does not pertain to the protection against cancellation based on age or health.
C) mirroring Medicare.
Mirroring Medicare is not a recognized term in this context. It does not relate to the cancellation of policies based on age or health and instead suggests a potential alignment or similarity to Medicare's own coverage, which does not address the issue at hand.
D) duplicating Medicare.
Duplicating Medicare implies providing coverage similar to what Medicare offers, but it does not pertain to the cancellation of Medicare supplement policies. This option fails to address the protections against policy termination based on age or health deterioration.
Conclusion
Guaranteed renewability is the correct answer as it specifically safeguards against the cancellation of Medicare supplement policies due to age or health deterioration. Other options, while related to Medicare, do not provide the same level of protection regarding policy cancellations, making them incorrect in this context.