S.D. Admin. R. 20:06:13:57

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:06:13:57 - Standards for marketing

Every issuer, health care service plan, or other entity marketing Medicare supplement insurance coverage in this state, directly or through its agents or representatives, shall:

(1) Establish marketing procedures to assure that any comparison of policies or certificates by its agents or other representatives will be fair and accurate;

(2) Establish marketing procedures to assure that excessive insurance is not sold or issued;

(3) Display prominently by type, stamp, or other means on the first page of the outline of coverage and policy or certificate the following:

"Notice to buyer: This policy may not cover all of your medical expenses";

(4) Inquire and otherwise make every effort to identify whether a prospective applicant, certificate holder, or enrollee for Medicare supplement insurance already has accident and sickness insurance and the types and amounts; and

(5) Establish auditable procedures for verifying compliance with this section.

S.D. Admin. R. 20:06:13:57

16 SDR 174, effective 5/2/1990; 17 SDR 58, effective 10/29/1990; 18 SDR 225, effective 7/17/1992; 22 SDR 107, effective 2/18/1996.

General Authority: SDCL 58-4-1, 58-17A-2.

Law Implemented: SDCL 58-17A-2, 58-17A-7.