Text: SF37            Text: SF39
Complete Bill History


Senate File 38

SENATE FILE BY BOLKCOM, SODDERS, BEALL, McCOY, JOCHUM, GRONSTAL, QUIRMBACH, DEARDEN, HORN, TAYLOR, HATCH, BRASE, SENG, DANIELSON, DOTZLER, DVORSKY, RAGAN, SCHOENJAHN, and PETERSEN A BILL FOR 1 An Act providing for standardized provisions and format and a 2 consumer guide for long=term care insurance policies and 3 including applicability provisions. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 1384XS (2) 85 av/nh PAG LIN 1 1 Section 1. Section 514G.105, Code 2013, is amended by adding 1 2 the following new subsections: 1 3 NEW SUBSECTION. 5A. Standard provisions and format. 1 4 a. The commissioner shall adopt rules establishing standard 1 5 provisions for terms and benefits required to be included in a 1 6 long=term care insurance policy advertised, marketed, offered, 1 7 delivered, or issued for delivery in this state. The rules 1 8 shall establish a standard format for such long=term care 1 9 insurance policies to facilitate ease of comparison of the 1 10 various policies by consumers. 1 11 b. The commissioner shall review each policy of long=term 1 12 care insurance prior to the policy being advertised, marketed, 1 13 offered, delivered, or issued for delivery in this state to 1 14 ensure that the policy complies with the requirements of this 1 15 subsection and rules adopted pursuant to this subsection. 1 16 NEW SUBSECTION. 7A. Consumer guide. 1 17 a. A consumer guide, as prescribed by the commissioner 1 18 by rule, shall be delivered to a prospective applicant 1 19 for long=term care insurance at the time of the initial 1 20 solicitation for coverage. 1 21 (1) In the case of producer solicitations, a producer shall 1 22 deliver the consumer guide to a prospective applicant prior to 1 23 the presentation of an application or enrollment form. 1 24 (2) In the case of direct response solicitations, the 1 25 consumer guide shall be presented in conjunction with any 1 26 application or enrollment form. 1 27 (3) In the case of a policy issued to a group as described 1 28 in section 514G.103, subsection 9, paragraph "a", a consumer 1 29 guide is not required to be delivered to the applicant, 1 30 provided that the information described in paragraph "b" of this 1 31 subsection is contained in other enrollment materials provided. 1 32 Upon request such other enrollment materials shall be made 1 33 available to the commissioner. 1 34 b. The consumer guide shall include a description of the 1 35 standard terms, benefits, and format required for a long=term 2 1 care insurance policy in this state. The commissioner of 2 2 insurance may by reference adopt or permit the use of the 2 3 long=term care insurance consumer guide developed by the 2 4 national association of insurance commissioners, the blue 2 5 cross and blue shield association, or the health insurance 2 6 association of America, provided that the consumer guide that 2 7 is adopted or permitted to be used by reference meets all of 2 8 the requirements of this subsection. 2 9 Sec. 2. APPLICABILITY. This Act applies to long=term care 2 10 insurance policies advertised, marketed, offered, delivered, or 2 11 issued for delivery in this state on or after July 1, 2013. 2 12 EXPLANATION 2 13 This bill requires the commissioner of insurance to adopt 2 14 rules establishing standard provisions for terms and benefits 2 15 required to be included in a long=term care insurance policy 2 16 advertised, marketed, offered, delivered, or issued for 2 17 delivery in this state. The rules must establish a standard 2 18 format for such policies so that consumers can easily compare 2 19 the various policies offered. The commissioner is required to 2 20 review each policy of long=term care insurance to ensure that 2 21 the policy complies with these requirements. 2 22 The bill also requires the commissioner to adopt rules 2 23 concerning a consumer guide to be delivered to prospective 2 24 applicants for long=term care insurance at the time of 2 25 solicitation, application, or enrollment. The guide must 2 26 include a description of the required standard terms, benefits, 2 27 and format in long=term care insurance policies in this state. 2 28 The commissioner may by reference adopt or permit the use 2 29 of a consumer guide developed by the national association 2 30 of insurance commissioners, the blue cross and blue shield 2 31 association, or the health insurance association of America, so 2 32 long as the guide meets all the requirements of the bill. 2 33 The bill is applicable to long=term care insurance policies 2 34 advertised, marketed, offered, delivered, or issued for 2 35 delivery in this state on or after July 1, 2013. LSB 1384XS (2) 85 av/nh
Text: SF37            Text: SF39 Complete Bill History