AN ACT
ENTITLED, An Act to revise the requirements for disclosure for certain health insurance coverages and to further limit the application of waiting periods for medicare supplement insurance.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 58-17A-7 be amended to read as follows:
58-17A-7. The director may promulgate rules pursuant to chapter 1-26 for captions or notice requirements determined to be in the public interest and designed to inform prospective insureds that particular insurance coverages are not medicare supplement coverages, for all health insurance policies sold to persons eligible for medicare other than medicare supplement policies and disability income policies.
The director may promulgate rules pursuant to chapter 1-26 to govern the full and fair
disclosure of information, marketing and conduct of agents in connection with the replacement
of health insurance policies, subscriber contracts and certificates by persons eligible for
medicare.
Section 2. That § 58-17A-3.1 be amended to read as follows:
58-17A-3.1. A policy or certificate of insurance providing medicare supplement benefits which is sold to a consumer to replace an existing, in-force medicare supplement policy may not contain any provision limiting payment of benefits due to preexisting conditions of the insured except, if there is any time period remaining relating to the exclusion of coverage for preexisting conditions as specified in the underlying policy, that remaining waiting period for coverage of preexisting conditions shall apply to the new policy unless the policy otherwise provides a lesser waiting period. The waiver applies to all time periods applicable to preexisting conditions, waiting periods, elimination periods, and probationary periods in the new medicare
An Act to revise the requirements for disclosure for certain health insurance coverages and to further limit the application of waiting periods for medicare supplement insurance.
Section 2. That § 58-17A-3.1 be amended to read as follows:
58-17A-3.1. A policy or certificate of insurance providing medicare supplement benefits which is sold to a consumer to replace an existing, in-force medicare supplement policy may not contain any provision limiting payment of benefits due to preexisting conditions of the insured except, if there is any time period remaining relating to the exclusion of coverage for preexisting conditions as specified in the underlying policy, that remaining waiting period for coverage of preexisting conditions shall apply to the new policy unless the policy otherwise provides a lesser waiting period. The waiver applies to all time periods applicable to preexisting conditions, waiting periods, elimination periods, and probationary periods in the new medicare
supplement.
An Act to revise the requirements for disclosure for certain health insurance coverages and to further limit the application of waiting periods for medicare supplement insurance.
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I certify that the attached Act originated in the |
Received at this Executive Office this ____ day of _____________ , |
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| SENATE as Bill No. 74 | 19___ at _____ M. | |
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____________________________
Secretary of the Senate
Secretary of the Senate
By _________________________
for the Governor
for the Governor
____________________________
President of the Senate
President of the Senate
Attest:
____________________________
Secretary of the Senate
Secretary of the Senate
____________________________
Speaker of the House
Attest:
____________________________
Chief Clerk The attached Act is hereby approved this ________ day of ______________ , A.D., 19___
Chief Clerk The attached Act is hereby approved this ________ day of ______________ , A.D., 19___
____________________________
Governor
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Governor
STATE OF SOUTH DAKOTA,
ss.
Office of the Secretary of State
Filed ____________ , 19___
at _________ o'clock __ M.
Senate Bill No. 74
File No. ____
Chapter No. ______
____________________________
Secretary of State
Secretary of State
By _________________________
Asst. Secretary of State
