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If a beneficiary is enrolled in a MA-only HMO and they also sign up for a PDP plan, they will be automatically dropped from their MA plan. The statement is True.
Who is a Beneficiary?
- A beneficiary in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor.
- For example, the beneficiary of a life insurance policy is the person who receives the payment of the amount of insurance after the death of the insured.
- The majority of beneficiaries may be set up to specify who gets the assets once the owner(s) pass away.
- The assets will likely go to the contingent beneficiaries, nevertheless, if the principal beneficiary or beneficiaries pass away or fail to meet the requirements.
- A benefactor may employ further limitations, such as the need that the recipients be married, or more inventive ones, in an effort to regulate their behavior. Trusts permit any limits that are not against the law or serve an unlawful goal, unlike some situations, such as retirement funds, which do not permit any restrictions once the primary beneficiaries pass away.
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