State RegulationsVA specificDifficulty 1/5
Under Virginia's Medicare supplement rating rules, what must happen to an insurer's Medicare supplement premium rates before they can be used?
Select an option to reveal the answer and the full 3-part explanation — free, no signup.
Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
Virginia's Medicare supplement rating regulation, 14 VAC 5-170-30, subjects the rates insurers charge for these policies to filing with and review by the Virginia Bureau of Insurance, which acts under the authority of the State Corporation Commission. Standardization of benefit designs does not deregulate price — the Bureau still reviews that the premiums filed are consistent with the insurer's rating methodology. This filing discipline is what keeps Medigap pricing transparent and reviewable in Virginia.
Why the other options are wrong
- A) Premiums come from the insurer's filed rating structure, not from one-on-one negotiation at the point of sale.
- C) Rates are set by each insurer and filed for review; no statewide association sets Medigap prices.
- D) Standardization governs benefits, not regulatory oversight; rates remain subject to filing and review.
Memory hook
Standard benefits, reviewed prices: Medigap rates go through the Bureau, not the bargaining table.