South Dakota Codified Laws 58-17A-14. Requirements for replacement of policy
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An issuer replaces a medicare supplement policy if:
(1) The issuer discontinues or does not renew a medicare supplement policy and offers an alternative medicare supplement policy to its insured; or
Terms Used In South Dakota Codified Laws 58-17A-14
- Issuer: includes insurance companies, fraternal benefit societies, health care service plans, health maintenance organizations, and any other entity delivering or issuing for delivery in this state medicare supplement policies or certificates. See South Dakota Codified Laws 58-17A-1
(2) The newer policy has an effective date which coincides with or which is within thirty days after the date the older policy covering that same insured discontinued. An issuer does not violate medicare supplement replacement requirements unless that issuer or its representative knew or reasonably should have known of the older policy.
Source: SL 1989, ch 432, § 2; SL 1992, ch 347, § 14; SL 1993, ch 361; SL 1995, ch 279.