{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-4400","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-4400","heading":"Criteria for inflation protection coverage","body":"A. In accordance with Section 6021 of the Deficit Reduction Act\n\nof 2005 (P.L. 109-171) and any applicable provision relating to the\n\nOklahoma Long-Term Care Insurance Partnership Program, any policy\n\nintended to meet the requirements under such Program must meet the\n\nfollowing criteria for inflation protection coverage:\n\n1. For a person who is less than sixty-one (61) years of age as\n\nof the date of purchase of the Partnership policy, such policy\n\nprovides annual inflation protection of at least three percent (3%)\n\nper year compounded annually or a rate, compounded annually, that is\n\nbased upon changes in the consumer price index;\n\n2. For a person who is at least sixty-one (61) years of age but\n\nless than seventy-six (76) years of age as of the date of purchase\n\nof the Partnership policy, such policy provides annual inflation\n\nprotection of at least three percent (3%) simple or a rate that is\n\nbased on the annual consumer price index;\n\n3. For a person who is at least seventy-six (76) years of age\n\nas of the date of purchase of the Partnership policy, such policy\n\nmay provide inflation protection.\n\nB. Persons who purchase a Partnership policy that meets the\n\ninflation protection criteria in subsection A of this section may\n\nadjust their inflation protection as they age. Their policies will\n\nmaintain Partnership status as long as the inflation protection\n\ncontinues to meet the minimum requirements for their attained age.\n\nC. For the purposes of this section, \"consumer price index\"\n\nmeans the consumer price index for all urban consumers as determined\n\nby the Bureau of Labor Statistics within the United States\n\nDepartment of Labor. The Insurance Commissioner may approve an\n\nalternative index to be used in place of the consumer price index or\n\nalternative inflation protection programs developed by the insurer\n\nif the Commissioner deems that such programs would meet the intent\n\nof this section.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"0db73dfc5b4a1582d7800380d97e5879a5fc7963d3e4762820d6f976e9dc1ebb","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-4250","next":"us-ok/okla.-stat.-tit.-36-36-4401"},"notice":"GroundRules: Original legal text. Not legal advice."}