§ 23-79-401. Title

This subchapter shall be known and cited as the “Medicare Supplement Insurance Minimum Standards Act”.

§ 23-79-402. Applicability and scope

(a) Except as otherwise specifically provided in § 23-79-405, this subchapter shall apply to: (1) All Medicare supplement policies delivered or issued for delivery in this state on or after March 20, 1992; and (2) All certificates issued under group Medicare supplement policies, which certificates have been delivered or issued for delivery in this state. […]

§ 23-79-403. Definitions

As used in this subchapter: (1) “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; (2) “Certificate” means any certificate delivered or issued for delivery in this state […]

§ 23-79-404. Standards for policy provisions and authority to promulgate rules

(a) No Medicare supplement policy or certificate in force in this state shall contain benefits that duplicate benefits provided by Medicare. (b) Notwithstanding any other provision of law of this state, a Medicare supplement policy or certificate shall not exclude or limit benefits for losses incurred more than six (6) months from the effective date […]

§ 23-79-405. Loss ratio standards

Medicare supplement policies shall return to policyholders benefits which are reasonable in relation to the premiums charged. The Insurance Commissioner shall issue reasonable rules to establish minimum standards for loss ratios of Medicare supplement policies on the basis of incurred claims experience, or incurred healthcare expenses when coverage is provided by a health maintenance organization […]

§ 23-79-406. Disclosure standards — Definition

(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 Insurance Commissioner shall prescribe the format and content […]

§ 23-79-407. Notice of free examination

Medicare supplement policies and certificates shall have a notice prominently printed on the first page of the Medicare supplement 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 premium refunded if, […]

§ 23-79-408. Filing requirements for advertising

Every issuer of Medicare supplement policies or certificates in this state shall provide a copy of any Medicare supplement advertising intended for use in this state whether through written, radio, or television medium to the Insurance Commissioner for review and approval prior to its use in this state.

§ 23-79-409. Administrative procedures

Rules adopted pursuant to this subchapter shall be subject to the provisions of § 23-61-108 and to the provisions of the Arkansas Administrative Procedure Act, § 25-15-201 et seq.

§ 23-79-410. Penalties

In addition to any other applicable penalties for violations of the Arkansas Insurance Code, the Insurance Commissioner may require issuers violating any provisions of this subchapter or rules promulgated pursuant to this subchapter to cease marketing any Medicare supplement policy or certificate in this state which is related directly or indirectly to a violation or […]