Utah Admin. Code R590-220-11 - Additional Procedures for Medicare Supplement Filings
A filer submitting Medicare supplement filings is advised to review Section 31A-22-620 and Rule R590-146.
(1) A Medicare
supplement form filing that affects rates must be filed with all required
rating documentation.
(2)
(a) A licensee must file its Medicare
Supplement Buyers Guide.
(b) If
previously filed, indicate the Utah Filed Date or SERFF tracking number in the
filing description.
(3)
Rates.
(a) Rates and rate documentation
submitted with a new form filing are a File and Use filing.
(b) A rate revision filing is a File for
Acceptance filing.
(c) Medicare
supplement rates must comply with Section
31A-22-602, and
Rules R590-146 and R590-85.
(d) A
licensee shall not use or change premium rates for a Medicare supplement policy
or certificate unless the rates, rating schedule and supporting documentation
have been filed.
(e) A rate
revision request may not be used to satisfy the annual filing requirements of
Subsection
R590-146-14.C.
(4) Annual Medicare
Supplement Reports.
(a) Reports are due May
31 each year.
(b) Report of
Multiple Policies.
(i) As required by Section
R590-146-22,
an issuer of Medicare supplement policies shall annually submit a report of
multiple policies the licensee has issued to a single insured.
(ii) The report is required each year listing
each insured with multiple policies or must state "NO MULTIPLE POLICIES WERE
ISSUED."
(c) Annual
Filing of Rates and Supporting Documentation.
(i) An issuer of Medicare supplement policies
and certificates shall file annually its rates, rating schedule and supporting
documentation, including ratios of incurred losses to earned premiums by policy
duration, in accordance with Subsection
R590-146-14.C.
(ii) The NAIC Medicare Supplement
Insurance Model Regulations Manual details what should be included in the
annual rate filing.
(iii) Annual
reports submitted with a request or any type of reference to a rate revision
will be rejected.
(d)
Refund Calculation and Benchmark Ratio. An issuer shall file the Medicare
Supplement Refund Calculation Form and Reporting Form for the Calculation of
Benchmark Ratio Since Inception for Group Policies reports according to
Subsection
R590-146-14.B.
(e) Reports for Pre-Standardized
Medicare supplement benefit plans and 1990 Standardized Medicare supplement
benefit plans must be submitted together as one filing using a type of
insurance of "MS06," and a filing type of "Report."
(f) Reports for 2010 Standardized Medicare
supplement benefit plans must be submitted together as one filing with SERFF
using a type of insurance of "MS09," and a filing type of "Report."
(g) If all Medicare supplement reports are
not submitted together as one filing, the filing is considered incomplete and
will be rejected.
Notes
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