Alaska Stat. § 21.53.090

Current through Chapter 61 of the 2024 Legislative Session and 2024 Executive Orders 125, 133 through 135

Section 21.53.090 - Required regulations

The director shall adopt regulations regarding

(1) the sale of long-term care insurance that provide minimum standards for

(A) terms of renewability;

(B) initial and subsequent conditions of eligibility;

(C) nonduplication of coverage provisions;

(D) coverage of dependents;

(E) benefit triggers;

(F) preexisting conditions and recurrent conditions;

(G) termination of insurance, including incontestability periods;

(H) continuation or conversion;

(I) probationary periods, limitations, exceptions, reductions, and elimination periods;

(J) requirements for replacement;

(K) producer training, education, compensation, and testing;

(L) marketing practices;

(M) independent review of benefit determinations;

(N) penalties and reporting practices; and

(O) premium rates, including rate filing requirements;

(2) standard definitions of long-term care insurance terms;

(3) nonforfeiture or minimum value requirements;

(4) consumer protection standards, including standards for full and fair disclosure setting out the manner and content of required disclosures; and

(5) the standard format and content of the outline of coverage required under AS 21.53.050.

AS 21.53.090

Amended by SLA 2011, ch. 23,sec. 74, eff. 7/1/2011.