Rulemaking.

1. Law
2. Utah Code
3. Insurance Code
4. Contracts in Specific Lines
5. Limited Long-term Care Insurance Act
6. Rulemaking.

• (1) shall makes rules:
  • (a) in the event of a substantial rate increase, promoting premium adequacy and protecting the policy holder;
  • (b) establishing minimum standards for limited long-term care insurance marketing practices, producer compensation, producer testing, independent review of benefit determinations, penalties, and reporting practices;
  • (c) prescribing a standard format, including style, arrangement, and overall appearance of an outline of coverage;
  • (d) prescribing the content of an outline of coverage, in accordance with the requirements described in Subsection 31A-22-2004(5)(b);
  • (e) specifying the type of nonforfeiture benefits offered as part of a limited long-term care insurance policy or certificate;
  • (f) establishing the standards of nonforfeiture benefits; and
  • (g) establishing the rules regarding contingent benefits upon lapse, including:
    • (i) a determination of the specified period of time during which a contingent benefit upon lapse will be available; and
    • (ii) the substantial premium rate increase that triggers a contingent benefit upon lapse as described in Subsection 31A-22-2005(1); and

• (2) may make rules establishing loss-ratio standards for limited long-term care insurance policies.

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