(a)

1. (1) Effective January 1, 1990, no Medicare supplement insurance policy, contract, or certificate shall be delivered or issued for delivery in this state that provides benefits that duplicate benefits provided by Medicare.
2. (2) No such policy, contract, or certificate shall provide fewer benefits than those required under the existing Medicare Supplement Insurance Minimum Standards Act, Arkansas Code § 23-79-401 et seq., or Minimum Standards for Medicare Supplement Policies, 23 CAR pt. 89, except where duplication of Medicare benefits would result and except as required by these transition provisions.

(b) General requirements.

1. (1) Within ninety (90) days of the effective date of this part, every insurer, healthcare service plan, or other entity required to file its policies or contracts with this state shall file new Medicare supplement insurance policies or contracts that:

   1. (A) Eliminate any duplication of Medicare supplement benefits with benefits provided by Medicare;
   2. (B) Adjust minimum required benefits to changes in Medicare benefits; and
   3. (C) Provide a clear description of the policy or contract benefit.
2. (2) The filing required under 23 CAR § 103-105(a)(1) shall provide for loss ratios which are in compliance with all minimum standards.
3. (3) Every applicant for a Medicare supplement insurance policy, contract, or certificate shall be provided with an outline of coverage that simplifies and accurately describes benefits provided by Medicare and policy or contract benefits along with benefit limitations.