Medicare supplement policies shall return to policyholders benefits which are reasonable in relation to the premium charged. The commissioner shall issue reasonable regulations to establish minimum standards for loss ratios of Medicare supplement policies on the basis of incurred claims experience, or incurred health care expenses where coverage is provided by a health maintenance organization on a service rather than reimbursement basis, and earned premiums in accordance with accepted actuarial principles and practices.
Structure Code of Alabama
Chapter 19 - Disability Insurance Policies.
Article 2 - Medicare Supplement Policy Minimum Standards.
Section 27-19-50 - Short Title.
Section 27-19-51 - Purpose of Article.
Section 27-19-52 - Definitions.
Section 27-19-52.1 - Applicability of Article.
Section 27-19-53 - Standards for Policy Provisions; Limitations of Benefits.
Section 27-19-55 - Standards for Loss Ratios.
Section 27-19-56 - Outline of Coverage; Disclosure of Information.
Section 27-19-57 - Right of Return and Refund.
Section 27-19-57.1 - Review of Advertisements.
Section 27-19-57.2 - Additional Penalties for Violation of Article.