(1) Alternate medicare supplement coverage as provided in 33-22-921 must be offered to its insureds by an issuer that:
- (a) bulk cedes its medicare supplement policy business to an insurer that does not meet the requirements of chapter 2;
- (b) authorizes the bulk reinsurer to administer the medicare supplement policies on its behalf; and
- (c) discontinues or does not renew a medicare supplement policy product.
- (2) The premium for the alternate policy referred to in subsection (1) must be based on actuarially justified rates.
History: En. Sec. 2, Ch. 125, L. 1987; amd. Sec. 28, Ch. 8, L. 2025.