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Senate commerce article revises Medicare supplement rules, adds NAIC stress-testing language and creates limited long-term care classification
Summary
Committee staff told members that Article 3 collects several Department of Commerce policy proposals related to health insurance, Medicare supplements and the mandated-benefit evaluation process, and the Department of Commerce testified in support of parts of the article while noting concerns.
Committee staff told members that Article 3 collects several Department of Commerce policy proposals related specifically to health insurance, Medicare supplements and the procedural framework for mandated-benefit evaluations. The article also incorporates language requiring the Commissioner of Commerce to develop forms used in the mandated-benefit evaluation process and clarifies that certain mandates remain effective even where procedural steps were not followed.
Mr. Houdala summarized that the article includes a provision allowing insurance companies to impose a 10% penalty on individuals who enroll in a Medicare supplement plan outside their initial open enrollment period, while also…
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