22224075, 69O-156.003 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 22224075

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

MEDICARE SUPPLEMENT INSURANCE

Overview

RULE:

69O-156.003	Definitions
69O-156.0075	Benefit Standards for 2010 Standardized Medicare Supplement Benefit Plan Policies or Certificates Issued for Delivery with an Effective Date for Coverage on or After June 1, 2010.

PURPOSE:

To update Chapter 69O-156 to allow for a revision of prior products and new product generation by adopting revisions to the NAIC Model Regulation.

SUMMARY:

The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) was signed into law on April 16, 2015, and prohibits the sale of Medigap policies that cover Part B deductibles to “newly eligible” Medicare beneficiaries.  On August 29, 2016, the National Association of Insurance Commissioners (NAIC) adopted revisions to the NAIC Model Regulation to Implement the NAIC Medicare Supplement Insurance Minimum Standards Model Act (NAIC Model Regulation) to comply with MACRA.  69O-156.003 and 69O-156.0075 are amended to comply with amendments to the NAIC Model Regulation by NAIC.

RULEMAKING AUTHORITY:

624.308(1), 627.6274(2), 627.6741(5) FS.

LAW:

624.307(1), 627.410, 627.674, 627.6741 FS.

PRINT PUBLISH DATE:

8/6/2019 Vol. 45/152

COMMENTS:

From 8/6/2019 To 8/27/2019 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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