Maine Revised Statutes Title 24-A Sec. 5075-A – Certification by superintendent
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1. Filing of form. An insurer, nonprofit hospital or medical service organization or nonprofit health care plan may request, at the time it files a policy or contract for approval for issuance or delivery in the State or at any time thereafter, that the superintendent certify the policy or contract as a long-term care insurance policy.
[PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
Terms Used In Maine Revised Statutes Title 24-A Sec. 5075-A
- Contract: A legal written agreement that becomes binding when signed.
- in writing: include printing and other modes of making legible words. See Maine Revised Statutes Title 1 Sec. 72
- Long-term care insurance policy: includes individual and group annuities and life insurance policies or riders that directly provide or that supplement coverage for long-term care insurance and a policy or rider that provides for payment of benefits based upon cognitive impairment or the loss of functional capacity. See Maine Revised Statutes Title 24-A Sec. 5072
2. Determination. Within 60 days after receipt of a request for certification, the superintendent shall in writing:
A. Certify that the policy or contract complies with this section; [PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
B. Deny the request and state the reasons for the denial; or [PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
C. Notify the insurer, nonprofit hospital or medical service organization or nonprofit health care plan that an insufficient basis exists for determining whether a certification should be made and indicate the nature of the insufficiency. [PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
[PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
3. Standards for compliance. The superintendent shall certify a policy or contract submitted for review under this section as a long-term care insurance policy if the superintendent finds that the policy or contract complies with all the standards applicable to long-term care policies set forth in this chapter and in chapters 27, 33 and 35 and rules adopted pursuant to those chapters by the superintendent. Waivers granted under the rules must be taken into consideration.
[PL 2001, c. 679, §1 (NEW); PL 2001, c. 679, §6 (AFF).]
SECTION HISTORY
PL 2001, c. 679, §1 (NEW). PL 2001, c. 679, §6 (AFF).