KRS 304.14-560: Consumer's guide to long -term care insurance -- Compilation --

Distribution -- Payment.

(1) The commissioner of insurance shall biennially compile a consumer's guide to long-

term care insurance in Kentucky. The consumer's guide shall cover all insu rers

offering health insurance policies in Kentucky, including health maintenance

organizations, which provide coverage for services provided in long -term care

facilities as defined in KRS 216.510(1). The purpose of the consumer's guide shall

be to improve the buyer's ability to select the most appropriate long -term care

coverage and to improve the buyer's understanding of long -term care. The

consumer's guide shall contain, at a minimum, the following information:

(a) Definitions of long -term care services provided in Kentucky, the cost of

services, sources of payment for long -term care, and eligibility for assistance

programs;

(b) Factors that affect premium rates, such as age, deductibles, duration of

benefits, and daily benefits paid;

(c) An explanation o f the types of limitations contained in long -term care

policies;

(d) A check list for the use of potential buyers of long -term care insurance which

covers items that should be considered when selecting a long -term care

insurance policy; and

(e) A comparison of the long-term care policies offered for sale in Kentucky. The

comparison shall be updated at least annually, shall not recommend one policy

over another, and shall provide the following information for policies:

premiums at ages fifty -five (55), sixty -five (65), and seventy -five (75);

services covered; length of coverage; limitations on coverage; prior

institutionalization requirements; elimination period; and any other

information the commissioner deems appropriate.

(2) The commissioner shall issue ad ministrative regulations setting forth specific

information to be provided by insurers writing long -term health care insurance in

Kentucky to the department to complete the biennially compiled consumer's guide

to long-term care insurance in Kentucky.

(3) The commissioner shall distribute, free of charge, a copy of the consumer's guide to

long-term care insurance to any person upon request.

(4) The commissioner shall assess against insurers writing long -term health care

insurance in Kentucky on an equitable basis the cost of compiling, printing, and

distributing the consumer's guide to long-term care.