26B-3-205. Long-term care insurance partnership.
| (1) |
As used in this section:
Terms Used In Utah Code 26B-3-205- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
| (a) |
“Qualified long-term care insurance contract” is as defined in 26 U.S.C. § 7702B(b). |
| (b) |
“Qualified long-term care insurance partnership” is as defined in 42 U.S.C. § 1396p(b)(1)(C)(iii). |
| (c) |
“State plan amendment” means an amendment to the state Medicaid plan drafted by the department in compliance with this section. |
|
| (2) |
No later than July 1, 2014, the department shall seek federal approval of a state plan amendment that creates a qualified long-term care insurance partnership. |
| (3) |
The department may make rules to comply with federal laws and regulations relating to qualified long-term care insurance partnerships and qualified long-term care insurance contracts. |
Renumbered and Amended by Chapter 306, 2023 General Session
