How long does an individual have to examine a Medicare supplement policy after receiving it?

An individual has 30 days from the date they receive a Medicare supplement policy to examine it. This period is often referred to as a "free look" period, which allows policyholders to review the terms and conditions of the policy and determine if it meets their needs without any risk. If they find that the policy does not suit their preferences or circumstances, they have the right to cancel it within this 30-day timeframe for a full refund of any premium paid.

The duration of this free look period is designed to provide consumers with adequate time to make an informed decision regarding their insurance coverage. It encourages confident purchasing decisions and helps ensure that individuals have the protection they need without feeling rushed.

In contrast, shorter or longer periods, like 15 days, 60 days, or 90 days, do not align with the specific regulations guiding Medicare supplement policies, which is why they are not the correct answer in this context.