KRS 304.14-510: Minimum standards regulations.

The commissioner may make reasonable rules and regulations establishing minimum

standards for Medicare supplement insurance policies delivered or issued for delivery in

the state. Such regulations may cover but are not limited to:

(1) Establishing specific standards for policy provisions;

(2) Prohibiting policy provisions which in the opinion of the commissioner are unjust,

unfair, or unfairly discriminatory to any person insured or proposed for coverage

under a Medicare supplement policy;

(3) Establishing minimum standards for benefits under Medicare supplement policies;

(4) Prescribing the format and content of the outline of coverage required by KRS

304.14-540. For purposes of this section, "format" means style, arrangements, and

overall appearance, including such items as the size, color, and prominence of type

and the arrangement of text and captions. Such outline of coverage shall include:

(a) A description of the principal benefits and coverage provided in the policy;

(b) A statement of the exceptions, reductions, and limitations contained in the

policy;

(c) A statement of the renewal provisions, including any reservation by the

insurer of a right to change premiums;

(d) A statement that the outline of coverage is a summary of the policy issued or

applied for and that the policy should be consulted to determine governing

contractual provisions.

(5) Prescribing a standard form and the contents of an informational brochure for

persons eligible for Medicare which is intended to improve the buyer's ability t o

select the most appropriate coverage and improve the buyer's understanding of

Medicare. Except in the case of direct response insurance policies, the

commissioner may require by regulation that the information brochure be provided

to any prospective insu reds eligible for Medicare concurrently with delivery of the

outline of coverage. With respect to direct response insurance policies, the

commissioner may require by regulation that the prescribed brochure be provided

upon request to any prospective insureds eligible for Medicare, but in no event later

than the time of policy delivery.

(6) Establishing reasonable captions and notice requirements, determined to be in the

public interest and designed to inform prospective insureds that particular insurance

coverages are not Medicare supplement coverages, for all accident and sickness

insurance policies sold to persons eligible for Medicare, other than:

(a) Medicare supplement policies; or

(b) Disability income policies.

(7) Governing the full and fair disclosure of the information in connection with the

replacement of accident and sickness policies, subscriber contracts, or certificates

by persons eligible for Medicare.