Utah Code 31A-22-2003. Scope

31A-22-2003. Scope.

(1)	The requirements of this part apply to limited long-term care insurance policies and certificates marketed, delivered, or issued for delivery in this state on or after July 1, 2020.

Terms Used In Utah Code 31A-22-2003

Insurance: includes :

(i)	a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind;

(ii)	a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and

(iii)

a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301

Long-term care insurance: includes :

(i)

any of the following that provide directly or supplement long-term care insurance:

(A)	a group or individual annuity or rider; or

(B)	a life insurance policy or rider;

(ii)

a policy or rider that provides for payment of benefits on the basis of:

(A)	cognitive impairment; or

(B)	functional capacity; or

(iii)	a qualified long-term care insurance contract. See Utah Code 31A-1-301 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
(2)	Laws and regulations designed or intended to apply to Medicare supplement insurance policies may not be applied to limited long-term care insurance.

Enacted by Chapter 32, 2020 General Session

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