{"data":{"id":"us-mi/mich.-comp.-laws-500.3821","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.3821","heading":"Issuance of policy to person not enrolled in medicare parts A and B prohibited; refund; interest.","body":"Sec. 3821.\n\nAn insurer shall not issue an individual medicare supplement policy to a person who has not applied for or enrolled in medicare, parts A and B. If it is later determined that a person has not applied for or enrolled in medicare, parts A and B, an insurer shall refund all premiums received from the person for a medicare supplement policy issued to the person plus interest less the amount of any benefits received by the person under the policy.\n\nInterest under subsection (1) shall be calculated at 6-month intervals from the date the first premium payment was received at a rate of interest equal to 1% plus the average interest rate paid at auctions of 5-year United States treasury notes during the 6 months immediately preceding July 1 and January 1, as certified by the state treasurer, and compounded annually.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-3821","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"08c1febf711ec24830e58218c4749d54092672c7cbb2b9c57bb00c3845cb4f42","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.3819a","next":"us-mi/mich.-comp.-laws-500.3823"},"notice":"GroundRules: Original legal text. Not legal advice."}