Notice Filed with SOS |
07/30/2018 |
Rule |
ProposedRuleAttach2018-00351.doc |
Statutory Authority |
10-18-106(5) and 10-1-109 |
Description of Subjects/Issues |
4-3-1 - MINIMUM STANDARDS FOR MEDICARE SUPPLEMENT POLICIES
The purpose of this regulation is to provide for the reasonable standardization of coverage and simplification of terms and benefits of Medicare supplement policies; to facilitate public understanding and comparison of such policies; to eliminate provisions contained in such policies which may be misleading or confusing in connection with the purchase of such policies or with the settlement of claims; to provide for full disclosure in the sale of accident and sickness insurance coverage to persons eligible for Medicare; and to comply with the mandate of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) which prohibit the sale of Medicare supplement benefit policies that cover Medicare Part B deductibles to “newly eligible” Medicare beneficiaries defined as those individuals who become eligible for Medicare due to age, disability or end-stage renal disease, on or after January 1, 2020. |
Purpose/Objective of Rule |
The purpose of this regulation is to provide for the reasonable standardization of coverage and simplification of terms and benefits of Medicare supplement policies; to facilitate public understanding and comparison of such policies; to eliminate provisions contained in such policies which may be misleading or confusing in connection with the purchase of such policies or with the settlement of claims; to provide for full disclosure in the sale of accident and sickness insurance coverage to persons eligible for Medicare; and to comply with the mandate of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) which prohibit the sale of Medicare supplement benefit policies that cover Medicare Part B deductibles to “newly eligible” Medicare beneficiaries defined as those individuals who become eligible for Medicare due to age, disability or end-stage renal disease, on or after January 1, 2020. |
Submitted in response to issues raised by COLS/OLLS? |
No
|
Is this rule adopted in response to recent legislation? |
No
|
Hearing Date |
09/04/2018 |
Hearing Time |
01:00 PM |
Hearing Location |
1560 Broadway, Ste 110 D, Denver CO 80202 |
Contact Name |
Christine Gonzales-Ferrer |
Contact Title |
Rulemaking Coordinator |
Contact Telephone |
303-894-2157 |
Contact email |
christine.gonzales-ferrer@state.co.us |