What must Medicare supplement policies be?

Medicare supplement policies must be guaranteed renewable. This means that as long as the policyholder continues to pay their premiums on time, the insurer cannot cancel the policy for any reason, including the policyholder's health changes. This provision is essential because it ensures that seniors or individuals with disabilities can maintain access to their supplemental insurance coverage, which helps cover costs not paid by Medicare, such as copayments, coinsurance, and deductibles.

The aspect of guaranteed renewability provides peace of mind to policyholders, knowing their coverage won't be revoked unexpectedly as they age or if their health status changes. This is a key feature that distinguishes Medicare supplement plans from other types of health insurance, making it a critical component of the policy's framework.