- (a) Every insurer marketing a minimum basic benefit policy in this state shall provide a copy of any advertisement intended for use whether through written, radio, or television medium to the Insurance Commissioner for review and approval by the commissioner.
(b) Every insurer marketing a basic benefit policy in this state shall comply with the following standards of marketing:
- (1) Establishment of marketing procedures to ensure fair and accurate comparison of policies by agents or other producers;
- (2) Display by type, stamp, or other appropriate means on the first page of any written marketing material or outline of coverage the following: "NOTICE TO BUYER: This is a basic benefit policy and does not contain benefits required by law to be provided by a major medical disability policy.";
- (3) Inquire and otherwise make every reasonable effort to identify whether a prospective applicant or enrollee for basic benefit insurance is a qualified individual, qualified family, or qualified group having only had the permitted coverages for the twelve (12) months preceding the application; and
- (4) Every insurer or entity marketing basic benefit policies shall establish auditable procedures for verifying compliance with this section.
- (c) No policy of insurance may use the words "basic benefit", "minimum benefit", "minimum basic benefit", "bare bones", or other such words or similar language in any policy, advertisement, brochure, or other materials that would lead the average consumer to assume that such policy has been approved by the commissioner as a minimum basic benefit policy pursuant to Acts 1991, No. 238, unless the policy in question has been approved as a minimum basic benefit policy pursuant to this part and Acts 1991, No. 238.