Montana Code 33-22-922. Discontinuance or nonrenewal — alternate policy — unauthorized bulk reinsurance
33-22-922. Discontinuance or nonrenewal — alternate policy — unauthorized bulk reinsurance. (1) Alternate medicare supplement coverage as provided in 33-22-921 must be offered to its insureds by a disability insurer that:
Terms Used In Montana Code 33-22-922
- Medicare: means Health Insurance for the Aged, Title XVIII of the Social Security Amendments of 1965, as then constituted or later amended. See Montana Code 33-22-903
- Medicare supplement policy: means a group or individual policy of disability insurance or a subscriber contract of a health service corporation, other than a policy issued pursuant to a contract under 42 U. See Montana Code 33-22-903
(a)bulk cedes its medicare supplement policy business to an insurer that does not meet the requirements of chapter 2;
(b)authorizes the bulk reinsurer to administer the medicare supplement policies on its behalf; and
(c)discontinues or does not renew a medicare supplement policy product.
(2)The premium for the alternate policy referred to in subsection (1) must be based on actuarially justified rates.