22224269, 69O-156.0086 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 22224269

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

MEDICARE SUPPLEMENT INSURANCE

Overview

RULE:

69O-156.0086

Standard Medicare Supplement Benefit Plans for 2020 Standardized Medicare Supplement Benefit Plan Policies or Certificates Issued for Delivery to Newly Eligible Medicare Beneficiaries with an Effective Date for Coverage on or After January 1, 2020.

PURPOSE:

To update Chapter 69O-156 to allow for a revision of prior products and new product generation by adopting revisions to the NAIC Model Regulation.

SUMMARY:

The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) was signed into law on April 16, 2015, and prohibits the sale of Medigap policies that cover Part B deductibles to “newly eligible” Medicare beneficiaries.  On August 29, 2016, the National Association of Insurance Commissioners (NAIC) adopted revisions to the NAIC Model Regulation to Implement the NAIC Medicare Supplement Insurance Minimum Standards Model Act (NAIC Model Regulation) to comply with MACRA.  69O-156.0086 is created to comply with amendments to the NAIC Model Regulation by NAIC.

RULEMAKING AUTHORITY:

624.308(1), 627.674(2) FS.

LAW:

624.307(1), 627.410, 627.674, 627.6741 FS.

PRINT PUBLISH DATE:

8/6/2019 Vol. 45/152

COMMENTS:

From 8/6/2019 To 8/27/2019 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

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