NAIC model law · NAIC model laws
Medicare Supplement Insurance Minimum Standards Model Act
Edition and licensing notes
Publisher. National Association of Insurance Commissioners (NAIC)
Status. NAIC model, © NAIC. Brief quotations under fair use; not the enacted law of any state until adopted.
What this document is
Medicare Supplement Insurance Minimum Standards Model Act is a naic model law published by National Association of Insurance Commissioners (NAIC). It is one of the documents that insurance license exam questions are written from, including life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.
Sections cited in practice questions
Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.
- NAIC Model #650: Section 4 (Loss Ratio Standards)
“Medicare supplement policies shall return to policyholders’ benefits which are reasonable in relation to the premium charged. The commissioner shall issue reasonable regulations to establish minimum standards for loss ratios of Medicare supplement policies on the basis of incurred claims...”
- NAIC Model #650: Section 3 (Standards for Policy Provisions)
“No Medicare supplement policy or certificate in force in the state shall contain benefits that duplicate benefits provided by Medicare.”
- NAIC Model NAIC 650: Section 6 (Notice of Free Examination)
“the applicant shall have the right to return the policy or certificate within thirty (30) days of its delivery and to have the premium refunded if, after examination of the policy or certificate, the applicant is not satisfied for any reason.”
- NAIC Model NAIC 650: Section 2B (Applicability and Scope)
“This Act shall not apply to a policy of one or more employers or labor organizations, or of the trustees of a fund established by one or more employers or labor organizations, or combination thereof, for employees or former employees or a combination thereof, or for members or former members, or a...”
- NAIC Model NAIC 650: Section 3F (Authority to Promulgate Regulations)
“The commissioner may adopt reasonable regulations that specify prohibited policy provisions not otherwise specifically authorized by statute which, in the opinion of the commissioner, are unjust, unfair or unfairly discriminatory to any person insured or proposed to be insured under a Medicare...”
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