58-17A-4. Reasonable benefits required--Regulations to establish minimum standard from loss ratios--Policies issued through mail or mass media advertising.
Medicare supplement policies shall return to policyholders benefits which are reasonable in relation to the premium charged. The director shall issue 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 and in accordance with accepted actuarial principles and practices. For purposes of regulations issued pursuant to this section, medicare supplement policies issued as a result of solicitations of individuals through the mail or mass media advertising, including both print and broadcast advertising, shall be treated as individual policies.
Source: SL 1982, ch 360, §4; SL 1989, ch 431, §3; SL 1992, ch 347, §4.
Structure South Dakota Codified Laws
Chapter 17A - Medicare Supplement Policies
Section 58-17A-1 - Definition of terms.
Section 58-17A-2 - Regulations to establish specific standards for policy provisions.
Section 58-17A-3 - Preexisting conditions--Policy provisions.
Section 58-17A-3.1 - Preexisting conditions provision prohibited in replacement policy--Exception.
Section 58-17A-5 - Outline of coverage delivered at time of application for insurance.
Section 58-17A-6 - Informational brochures.
Section 58-17A-9 - Regulations subject to Administrative Procedures Act.
Section 58-17A-13 - Review of advertisements of issuers providing medicare supplement insurance.
Section 58-17A-14 - Requirements for replacement of policy.
Section 58-17A-15 - Sale of second policy prohibited except as replacement--Liability of issuer.
Section 58-17A-16 - Additional penalties for violation of title.
Section 58-17A-17 - Conditional or discriminatory policy or certificate prohibited.