Rule 20:06:21:78 Long-term care partnership policies -- Filing requirements.
20:06:21:78. Long-term care partnership policies -- Filing
requirements. Schedule pages issued in compliance with § 20:06:21:77
are not required to be re-filed for approval. An informational filing notifying
the division that the language specified in § 20:06:21:78 will be used
meets the requirements of this section. The informational filing may be
included with the insurer's certification of forms that meet partnership
standards and are intended to be used for the issuance of partnership policies
in this state.
A partnership policy issued or issued
for delivery in the State of South Dakota shall be accompanied by a Partnership
Disclosure Notice, explaining the benefits associated with a partnership policy
and indicating that at the time issued, the policy is a qualified state
long-term care insurance partnership policy. If the company uses Appendix K,
the company is not required to file it for approval by the division. If the
company makes changes to the form, the company must file the form for approval by
the director. The Partnership Disclosure Notice shall also include a statement
indicating that by purchasing such partnership policy, the insured does not
automatically qualify for Medicaid.
Any policy submitted for approval as a
partnership policy shall be accompanied by a Partnership Certification Form.
Insurers requesting to make use of a
previously approved policy form as a qualified state long-term care partnership
policy shall submit to the director a Partnership Certification Form signed by
an officer of the company. The Partnership Certification Form shall be
accompanied by a copy of the policy or certificate form listed, the approval
date, and a bookmark for each of the requirements listed in sections II and III
of the form. A Partnership Certification Form shall be required for each policy
form submitted for partnership qualification. Appendix L is a sample of a
Partnership Certification Form that meets the requirements of this section.
33 SDR 230, effective July 2, 2007.
Authority: SDCL 58-17B-4.
Implemented: SDCL 28-6-38, 58-17B-4.
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