Individual Medigap policies sold today must return in benefits at least 60 percent of the premium earned.

Name: Individual Medigap policies sold today must return in benefits at least 60 percent of the premium earned.
Brand: Quizplus
Rating: 4.9 (64 reviews)

Question

Quizplus · Accepted Answer

This is true. According to federal law, Medigap policies sold after 1992 must have at least a 60 percent loss ratio, which means that they must pay out at least 60 cents in claims for every dollar in premium earned. However, some states may have higher loss ratio requirements.

Individual Medigap Policies Sold Today Must Return in Benefits at Least