20:06:13:51.  Notice of benefit change. At least 30 days before the annual effective date of Medicare benefit changes each issuer, health care service plan, or other entity providing Medicare supplement insurance or benefits to a resident of this state shall notify its policyholders and certificateholders of modifications it has made to Medicare supplement insurance policies or certificates in a format acceptable to the director or adopted by the NAIC. The notice must contain the following information:

 

          (1)  A description of revisions to the Medicare program and a description of each modification made to the coverage provided under the Medicare supplement insurance policy or certificate;

 

          (2)  Information for each covered person about when any premium adjustment due to changes in Medicare benefits will be made; and

 

          (3)  Benefit modifications and any premium adjustments in outline form stated in clear and simple terms.

 

          The notice may not contain or be accompanied by a solicitation.

 

          Source: 15 SDR 143, effective March 29, 1989; 16 SDR 174, effective May 2, 1990; 18 SDR 225, effective July 17, 1992; 27 SDR 53, effective December 4, 2000; 42 SDR 52, effective October 13, 2015.

          General Authority: SDCL 58-4-1, 58-17A-2.

          Law Implemented: SDCL 58-17A-2.

 

          Cross-Reference: Policy forms -- Filing with and approved by the director, SDCL 58-11-12.

 

          Note: A copy of a notice that meets the requirements of this section may be obtained from the Division of Insurance, 124 South Euclid Avenue, 3nd Floor, Pierre, SD 57501 (605-773-3563), free of charge.