Administrative Code

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Virginia Administrative Code
Title 14. Insurance
Agency 5. State Corporation Commission, Bureau of Insurance
Chapter 150. Rules to Implement Transitional Requirements for the Conversion of Medicare Supplement Insurance Benefits and Premiums to Conform to Medicare Program Revisions

14VAC5-150-30. Applicability and Scope.

This chapter (14VAC5-150-10 et seq.) shall take precedence over other rules and requirements relating to medicare supplement policies or contracts only to the extent necessary to assure that benefits are not duplicated, that applicants receive adequate notice and disclosure of changes in medicare supplement policies and contracts, that appropriate premium adjustments are made in a timely manner, and that premiums are reasonable in relation to benefits.

This chapter shall apply to:

1. All Medicare supplement policies and contracts delivered, or issued for delivery within this Commonwealth, or which are otherwise subject to the jurisdiction of this Commonwealth, and

2. All certificates issued under group medicare supplement policies as provided in 1 above.

This chapter applies to all Medicare supplement policies, contracts, and certificates as described in 1 and 2, above, delivered, or issued for delivery on or after the effective date hereof. In addition, 14VAC5-150-50 applies to all medicare supplement policies, contracts and certificates as described in 1 and 2, above, in effect on August 31, 1988.

Statutory Authority

§§ 38.2-223, 38.2-3516 through 38.2-3520, 38.2-3600 through 38.2-3607 and 38.2-514 of the Code of Virginia.

Historical Notes

Derived from Regulation 32, Case No. INS870293, § 4, eff. August 31, 1988.

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