20:06:13:60. Cancellation
or nonrenewal of policies. Except as authorized by the director, an issuer
may not cancel or refuse to renew a Medicare supplement policy or certificate
for any reason other than nonpayment of premium or material misrepresentation.
Each Medicare supplement policy must be guaranteed renewable.
Source:
16 SDR 174, effective May 2, 1990; 18 SDR 225, effective July 17, 1992; 36 SDR
209, effective July 1, 2010.
General
Authority: SDCL 58-17A-2.
Law
Implemented: SDCL 58-17A-2.
20:06:13:60.01. Guaranteed renewable with benefit changes.
An issuer that eliminates an outpatient prescription drug benefit as a result
of requirements imposed by the Medicare Prescription Drug, Improvement and
Modernization Act of 2003 shall be deemed to satisfy the guaranteed renewable
provision of § 20:06:13:60.
Source:
31 SDR 214, effective July 6, 2005.
General
Authority: SDCL 58-17A-2.
Law
Implemented: SDCL 58-17A-2.
