Regulation .08 Required Provision of Information Regarding A Partnership Policy.
Regulation .08 Required Provision of Information Regarding A Partnership Policy.LinkCopy Citation
A.
Except as provided in §C of this regulation, at the request of the insured or a representative of the Department on behalf of an insured, a carrier shall provide a completed Long-Term Care Partnership Program Policy Summary in the form set forth in §D of this regulation.
B.
The completed Long-Term Care Partnership Program Policy Summary required by §A of this regulation shall be:
(1)
Provided within 14 days after the date the carrier receives the request from the insured or the representative of the Department on behalf of the insured; and
(2)
Given to:
(a)
The insured, if the request for the Long-Term Care Partnership Program Policy Summary was received from the insured; or
(b)
The insured and the representative of the Department, if the request for the Long-Term Care Partnership Program Policy Summary was received from a representative of the Department on behalf of the insured.
C.
A carrier may develop its own partnership policy summary to provide the information found in the Long-Term Care Partnership Program Policy Summary form in §D of this regulation, if the carrier's policy summary includes all of the information and content found in the Long-Term Care Partnership Program Policy Summary form in §D of this regulation.
D.
The format and required text of the Long-Term Care Partnership Program Policy Summary referred to in §A of this regulation shall read as follows:
1.
Name of insured __________________________
2.
Insured's Social Security # ______________
3.
Insured's Date of Birth __________________
4.
Policy/certificate number _______________
5.
Effective date of coverage ______________
6.
The policy/certificate was issued in the state of: _______________
7.
Issue age of the insured at the time the coverage was issued _______________
8.
The policy/certificate was issued ? With ? Without inflation coverage
9.
The inflation coverage is:
10.
The inflation coverage is currently in effect [ ] Yes [ ] No
11.
If the answer to item 10 is no, the date inflation coverage ceased:__________
12.
The policy meets the standards of a tax qualified long-term care insurance policy [ ] Yes [ ] No
13.
The cumulative dollar amount of long-term care insurance benefits paid: $__________
14.
The total dollar amount of long-term care insurance benefits remaining available under the policy $ __________ as of the date this form was completed __________.
15.
The name, phone number, and email address of the person completing this form
E.
A carrier shall provide to the Department within 45 days after issuance of a partnership policy, the following information:
(1)
Name of the insured;
(2)
Insured's Social Security number;
(3)
Insured's date of birth; and
(4)
Policy or certificate number.
F.
A carrier shall provide reports to the Centers for Medicare and Medicaid Services in accordance with federal regulations developed, including any information that is deemed appropriate according to federal requirements.