TN Insurance Bulletin (1988-10-11)
TN Insurance Bulletin (1988-10-11): NAIC Model Transitional Regulation for Medicare Supplement Insurance.
STATE OF TENNESSEE
DEPARTMENT OF COMMERCE AND INSURANCE
500 JAMES ROBERTSON PARKWAY
NASHVILLE, TENNESSEE 37219
.. ·.
NED McWHERTER
GOVERNOR
ELAINE A. McREYNOLDS
COMMISSIONER
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Y,;,_ JJ
• '..1
~: ·.
~··
B U L L E T I N
TO:
All Insurers Writing Medicare
Supplement Insurance in Tennessee
FR:
Elaine A. McReynolds, Commissioner ~~~
Department of Commerce and Insurance
RE:
NAIC Model Transitional Regulation for
Medicare Supplement Insurance
DA:
October 11, 1988
As you are aware, the National Association
Commissioners (NAIC) adopted the Model Regulation
Transitional
Requirements
for
the
Conversion
Supplement
Insurance
Benefits
and
Premiums
to
Medicare Program Revisions at
a
special plenary
September, 1987.
of Insurance
to Implement
of
Medicare
Conform
to
session in
The
Regulation
requires
insurers
writing
medicare
supplement insurance to notify policyholders of revisions to
the medicare
program and
to provide
a
description of each
modification made to medicare supplement insurance coverage,
to notify of any premium adjustments, and to provide notice of
benefit modifications and any premium adjustments in outline
form in clear and simple terms so as facilitate comprehension.
The
Regulation
requires
insurers
to
file
with
the
Department
appropriate
premium
adjustments
necessary
to
produce
loss
ratios
as
originally
anticipated.
Any
appropriate riders,
endorsements or policy
forms
needed
to
accomplish
medicare
supplement
insurance
modifications
necessary
to
eliminate
benefit
duplications
with
medicare
shall also be filed with the Department.
The
Rule
implements
requirements
of
federal
law.
As
stated
previously,
the
Department
expects
all
medicare
supplement insurers doing business in Tennessee to comply with
the provisions of the Transitional Rule
ed
to
accomplish
medicare
supplement
insurance
modifications
necessary
to
eliminate
benefit
duplications
with
medicare
shall also be filed with the Department.
The
Rule
implements
requirements
of
federal
law.
As
stated
previously,
the
Department
expects
all
medicare
supplement insurers doing business in Tennessee to comply with
the provisions of the Transitional Rule.
The Department will
be promulgating changes to its Medicare Supplement Insurance
Regulations in the near future to implement the changes in the
new
NAIC
Medicare
Supplement
Insurance
Minimum
Standards
Regulation •
;
c
... ··
Most
insurers
should
have
a
copy
of
Transitional
Regulation.
However,
copies
Transitional Regulation will be furnished upon
EAM/cmf
the
NAIC
of
the
request.
l;'· .
Model
Model
·. --..