Section 10. Purpose

This chapter (14VAC5-150-10 et seq.) is designed to:

1. Ensure the orderly implementation and conversion of Medicare supplement insurance benefits and premiums due to changes in the federal Medicare program;

2. Provide for the reasonable standardization of the coverage, terms and benefits of Medicare supplement policies or contracts;

3. Facilitate public understanding of such policies or contracts;

4. Eliminate provisions contained in such policies or contracts which may be misleading or confusing in connection with the purchase of such policies or contracts;

5. Modify or eliminate policy or contract provisions which may duplicate medicare benefits;

6. Provide full disclosure of policy or contract benefits and benefit changes; and

7. Provide for refunds of premiums associated with benefits duplicating medicare program benefits.

Historical Notes

Derived from Regulation 32, Case No. INS870293, § 2, eff. August 31, 1988.

Statutory Authority

§§ 38.2-223, 38.2-3516 through 38.2-3520, 38.2-3600 through 38.2-3607 and 38.2-514 of the Code of Virginia.