17B:26A-5 - Regulations - New Jersey Statutes

17B:26A-5.   Regulations 
     5.   The commissioner shall promulgate regulations to effectuate and enforce the provisions of P.L.1982, c.94 (C. 17B:26A-1 et seq.) and any regulations which are necessary to conform medicare supplement policies and certificates with federal law.  These regulations shall include, but not be limited to: 

    a.   Establishment of minimum standards for benefits, claim payments, marketing and reporting practices and compensation arrangements; 

    b.   Establishment of a uniform methodology for calculating and reporting loss ratios, and requiring refunds or credits if the policies or certificates do not meet loss ratio requirements; 

    c.   Establishment of a process for filing of all requests for premium increases and rate changes, which may include public hearings as determined appropriate by the commissioner prior to approval of any premium increases; 

    d.   Assurance of access by the public to policy, premium and loss ratio information; and 

    e.   Establishment of standards for Medicare Select policies and certificates at such time as this State is authorized under federal law to authorize Medicare Select policies and certificates. 

    L.1982,c.94,s.5; amended 1992,c.163,s.4.