Indiana § 27-8-13-10 Medicare supplement policy and certificate standards; conformity with
federal law and regulations

Indiana Statutes

§ 27-8-13-10 — Medicare supplement policy and certificate standards; conformity with federal law and regulations

Indiana·Title 27 INSURANCE·Art. 8 LIFE, ACCIDENT, AND HEALTH·Ch. 13 Medicare Supplement Insurance

(a)The commissioner shall adopt rules under IC 4-22-2 to establish minimum standards for:

(1)claims payment;

(2)marketing practices;

(3)compensation arrangements; and

(4)reporting practices; for Medicare supplement policies and certificates.

(b)The commissioner may adopt rules under IC 4-22-2 that are necessary to conform Medicare supplement policies and certificates to the requirements of federal law and federal regulations. A rule adopted under this subsection may do the following:

(1)Require refunds or credits if the policies or certificates do not meet loss ratio requirements.

(2)Establish a uniform methodology for calculating and reporting loss ratios.

(3)Assure public access to policies, premiums, and loss ratio information of issuers of Medicare supplement insurance.

(4)Es

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(a) The commissioner shall adopt rules
under IC 4-22-2 to establish minimum standards for:
(1) claims payment;
(2) marketing practices;
(3) compensation arrangements; and
(4) reporting practices;
for Medicare supplement policies and certificates.
(b) The commissioner may adopt rules under IC 4-22-2 that are
necessary to conform Medicare supplement policies and certificates to
the requirements of federal law and federal regulations. A rule adopted
under this subsection may do the following:
(1) Require refunds or credits if the policies or certificates do not
meet loss ratio requirements.
(2) Establish a uniform methodology for calculating and reporting
loss ratios.
(3) Assure public access to policies, premiums, and loss ratio
information of issuers of Medicare supplement insurance.
(4) Establish a process for approving or disapproving policy forms
and certificate forms and proposed premium increases.
(5) Establish a policy for holding public hearings before approval
of premium increases.
(6) Establish standards for Medicare Select policies and
certificates.

Indiana § 27-8-13-10 (Medicare supplement policy and certificate standards; conformity with federal law and regulations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.