Okla. Admin. Code § 365:10-5-41.2

Current through Vol. 42, No. 7, December 16, 2024

Section 365:10-5-41.2 - Applicability and scope

(a) Except as otherwise specifically provided, this Part applies to all long-term care insurance policies delivered or issued for delivery in this state on or after the effective date hereof, by:

(1) insurers;

(2) fraternal benefit societies;

(3) nonprofit health, hospital and medical service corporations;

(4) prepaid health plans;

(5) health maintenance organizations; and

(6) all similar organizations.

(b) Certain provisions of this regulation apply only to qualified long-term care insurance contracts as noted.

(c) Additionally, this regulation is intended to apply to policies having indemnity benefits that are triggered by activities of daily living and sold as disability income insurance, if:

(1) The benefits of the disability income policy are dependent upon or vary in amount based on the receipt of long-term care services;

(2) The disability income policy is advertised, marketed or offered as insurance for long-term care services; or

(3) Benefits under the policy may commence after the policyholder has reached Social Security's normal retirement age unless benefits are designed to replace lost income or pay for specific expenses other than long-term care services.

Okla. Admin. Code § 365:10-5-41.2

Added at 10 Ok Reg 3033, eff 7-15-93; Amended at 18 Ok Reg 1277, eff 7-14-01