(1) ORS § 743.650 to 743.665 may be known and cited as the ‘Long Term Care Insurance Act.’

(2) The purpose of ORS § 743.650 to 743.665 is to:

(a) Promote the public interest in long term care insurance;

(b) Promote the availability of long term care insurance policies;

(c) Protect applicants for long term care insurance from unfair or deceptive sales or enrollment practices;

(d) Establish standards for long term care insurance;

(e) Facilitate public understanding and comparison of long term care insurance policies;

(f) Facilitate flexibility and innovation in the development of long term care insurance coverage; and

(g) Ensure that Oregon residents who purchase insurance for long term care shall have access to policies providing for a comprehensive range of benefits.

(3) The requirements of ORS § 743.650 to 743.665, 748.603 and 750.055 apply to policies and certificates delivered or issued for delivery in this state on or after December 31, 1989. ORS § 743.650 to 743.665, 748.603 and 750.055 are not intended to supersede the obligations of entities subject to ORS § 743.650 to 743.665, 748.603 and 750.055 to comply with the substance of other applicable insurance laws insofar as such laws do not conflict with ORS § 743.650 to 743.665, 748.603 and 750.055, except that laws and rules designed and intended to apply to Medicare supplement insurance policies shall not be applied to long term care insurance. A policy that is not advertised, marketed or offered as long term care insurance or nursing home insurance is not required to meet the requirements of ORS § 743.650 to 743.665, 748.603 and 750.055. [1989 c.1022 1,2,3; 2007 c.486 § 1]

[1967 c.359 § 496; renumbered 742.234 in 1989]