26-38-201. Definitions. (a) As used in this act: (i) “Applicant” means: (A) In the case of an individual Medicare supplement policy, the person who seeks to contract for insurance benefits; and (B) In the case of a group Medicare supplement policy, the proposed certificate holder. (ii) “Certificate” means any certificate delivered or issued for delivery […]
26-38-202. Applicability and scope. (a) Except as otherwise specifically provided, this act shall apply to: (i) All Medicare supplement policies delivered or issued for delivery in this state on or after the effective date of this act; and (ii) All certificates issued under group Medicare supplement policies which have been delivered or issued for delivery […]
26-38-203. Standards for policy provisions. (a) No Medicare supplement insurance policy or certificate in force in the state shall contain benefits which duplicate benefits provided by Medicare. (b) The commissioner shall adopt reasonable regulations to establish specific standards for policy provisions of Medicare supplement policies and certificates. The standards shall be in addition to and […]
26-38-204. Regulations. (a) The commissioner shall adopt reasonable regulations to establish minimum standards for benefits, claims payment, marketing practices, compensation arrangements and reporting practices for Medicare supplement policies and certificates. (b) The commissioner may adopt reasonable regulations necessary to conform Medicare supplement policies and certificates to the requirements of federal law and regulations, including but […]
26-38-205. Loss ratio standards. (a) Repealed by Laws 1992, ch. 57, § 2. (b) Medicare supplement policies shall return to policyholders benefits which are reasonable in relation to the premium charged. The commissioner shall issue reasonable regulations to establish minimum standards for loss ratios of Medicare supplement policies on the basis of incurred claims experience, […]
26-38-206. Disclosure standards. (a) In order to provide for full and fair disclosure in the sale of Medicare supplement policies, no Medicare supplement policy or certificate shall be delivered in this state unless an outline of coverage is delivered to the applicant at the time application is made. (b) The commissioner shall prescribe both the […]
26-38-207. Notice of free examination. Medicare supplement policies or certificates shall have a notice prominently printed on the first page of the policy or certificate or attached thereto stating in substance that the applicant shall have the right to return the policy or certificate within thirty (30) days of its delivery and to have the […]
26-38-208. Filing requirements for advertising. Every issuer of Medicare supplement insurance policies or certificates in this state shall provide to the insurance commissioner a copy of any Medicare supplement advertisement intended for use in this state whether through written, radio or television medium, for review by the commissioner.
26-38-209. Penalties. (a) In addition to any other applicable penalties for violations of this code, the commissioner may: (i) Require insurers to cease marketing any Medicare supplement policy or certificate in this state which violates any provision of this act, any other law administered by the commissioner, any regulation promulgated pursuant to this act or […]
