- (1) If a long-term care insurance policy replaces another long-term care insurance policy, the replacing insurer shall waive any time periods applicable to preexisting conditions, waiting periods and probationary periods in the new long-term care insurance policy for similar benefits to the extent that similar exclusions have been satisfied under the original policy.
- (2) If a group long-term care policy is replaced by another group long-term care policy purchased by the same policyholder, the succeeding insurer shall offer coverage to all persons covered under the old group policy on its date of termination.
Statutory/Other Authority
ORS 731, 742 & 743
Statutes/Other Implemented
ORS 743.655(1)(a)
History
ID 10-2007, f. 12-3-07, cert. ef. 1-1-08
Renumbered from 836-052-0575, ID 3-2005, f. & cert. ef. 3-1-05
ID 20-1990, f. 12-13-90, cert. ef. 1-1-91