At least 30 days before the annual effective date of Medicare benefit changes each issuer, health care service plan, or other entity providing Medicare supplement insurance or benefits to a resident of this state shall notify its policyholders and certificateholders of modifications it has made to Medicare supplement insurance policies or certificates in a format acceptable to the director or adopted by the NAIC. The notice must contain the following information:

1. (1) A description of revisions to the Medicare program and a description of each modification made to the coverage provided under the Medicare supplement insurance policy or certificate;
2. (2) Information for each covered person about when any premium adjustment due to changes in Medicare benefits will be made; and

3. (3) Benefit modifications and any premium adjustments in outline form stated in clear and simple terms.

   The notice may not contain or be accompanied by a solicitation.

   Note: A copy of a notice that meets the requirements of this section may be obtained from the Division of Insurance, 124 South Euclid Avenue, 3nd Floor, Pierre, SD 57501 (605-773-3563), free of charge.

Source: 15 SDR 143, effective March 29, 1989; 16 SDR 174, effective May 2, 1990; 18 SDR 225, effective July 17, 1992; 27 SDR 53, effective December 4, 2000; 42 SDR 52, effective October 13, 2015.

General Authority: SDCL 58-4-1 , 58-17A-2.

Law Implemented: SDCL 58-17A-2.

Prior versions effective: 2000-12-04.