Section 2001 – Title.
Effective 5/12/2020 31A-22-2001. Title. This part is known as the “Limited Long-Term Care Insurance Act.” Enacted by Chapter 32, 2020 General Session
Section 2002 – Definitions.
Effective 5/5/2021 31A-22-2002. Definitions. As used in this part: (1) “Applicant” means: (a) when referring to an individual limited long-term care insurance policy, the person who seeks to contract for benefits; and (b) when referring to a group limited long-term care insurance policy, the proposed certificate holder. (2) “Elimination period” means the length of time […]
Section 2003 – Scope.
Effective 5/12/2020 31A-22-2003. Scope. (1) The requirements of this part apply to limited long-term care insurance policies and certificates marketed, delivered, or issued for delivery in this state on or after July 1, 2020. (2) Laws and regulations designed or intended to apply to Medicare supplement insurance policies may not be applied to limited long-term […]
Section 2004 – Disclosure and performance standards for limited long-term care insurance.
Effective 5/12/2020 31A-22-2004. Disclosure and performance standards for limited long-term care insurance. (1) A limited long-term care insurance policy may not: (a) be cancelled, nonrenewed, or otherwise terminated because of the age, gender, or the deterioration of the mental or physical health of the insured individual or certificate holder; (b) contain a provision establishing a […]
Section 2005 – Nonforfeiture benefits.
Effective 5/12/2020 31A-22-2005. Nonforfeiture benefits. (1) (a) A limited long-term care insurance policy may offer the option of purchasing a policy or certificate including a nonforfeiture benefit. (b) The offer of a nonforfeiture benefit may be in the form of a rider that is attached to the policy. (c) In the event the policy holder […]
Section 2006 – Rulemaking.
Effective 5/12/2020 31A-22-2006. Rulemaking. In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner: (1) shall makes rules: (a) in the event of a substantial rate increase, promoting premium adequacy and protecting the policy holder; (b) establishing minimum standards for limited long-term care insurance marketing practices, producer compensation, producer testing, independent review […]