Section 695J.480 - Self-dealing; disclosures concerning compensation, eligibility determination and availability of certain coverageAn exchange enrollment facilitator who represents a client in an insurance transaction:
1. Shall not place his or her interest above the interest of the client.2. Shall, before or simultaneously with a client's purchase of insurance or the consummation of any other transaction that would entitle the exchange enrollment facilitator to compensation as a result of his or her representation of the client, disclose to the client: (a) That the exchange enrollment facilitator may receive compensation in some form as a result of his or her representation of the client in the transaction.(b) The name and identity of the source of the compensation and whether the exchange enrollment facilitator has any ownership interest in, or is under common control with, the person providing the compensation.(c) That the compensation received by the exchange enrollment facilitator may differ depending upon the product and insurer.(d) The identity of any other person that the exchange enrollment facilitator knows, or reasonably ought to know, will receive compensation for assisting the exchange enrollment fa cilitator in the insurance transaction. These disclosures must be followed by a documented acknowledgment by the client and the exchange enrollment facilitator that clearly indicates the client's understanding of the contents of the disclosure statement before, or simultaneously with the consummation of, the insurance transaction. In the case of a transaction consummated over the telephone or by electronic means, the client's understanding of the disclosure must be documented by the exchange enrollment facilitator at the time of the transaction and followed by a documented acknowledgment by the client and the exchange enrollment facilitator.
3. Shall, before a client's purchase of insurance, disclose to the client all health benefit plans, contracts providing coverage for dental care and programs of public assistance for which the client has been determined to be eligible by means of an eligibility determination made by the Exchange.4. Shall, before a client's purchase of insurance, disclose to the client that additional health benefit plans and contracts providing coverage for dental care may be available for purchase outside of the Exchange without an advance payment of the federal income tax credit for payment of eligible premiums.Nev. Admin. Code § 695J.480
Added to NAC by Comm'r of Insurance by R074-13, eff. 11/22/2013