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Bill Number: 1153 Ratification Number: 400 Act Number 362 Introducing Body: Senate Subject: Provisions for minimum standards deleted; regulations
(A362, R400, S1153)
AN ACT TO AMEND SECTION 38-71-730, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE REQUIREMENTS FOR GROUP HEALTH, GROUP ACCIDENT, AND GROUP ACCIDENT AND HEALTH INSURANCE POLICIES, SO AS TO DELETE THE PROVISIONS DETAILING THE MINIMUM STANDARDS FOR MEDICARE SUPPLEMENT POLICIES, TO DELETE THE PROVISIONS PERTAINING TO THE GROUP POLICY AND SUBSCRIBER CONTRACTS TO WHICH THE STANDARDS DO NOT APPLY, AND TO PROVIDE FOR THE CHIEF INSURANCE COMMISSIONER TO PROMULGATE REGULATIONS CONTAINING THE STANDARDS.
Be it enacted by the General Assembly of the State of South Carolina:
Provisions for minimum standards deleted; regulations
SECTION 1. Section 38-71-730(6) of the 1976 Code is amended to read:
"(6) A group policy or subscriber contract of accident and health insurance which is advertised, marketed, or designed primarily as a supplement to reimbursements under Medicare for the hospital, medical, or surgical expenses of persons eligible for Medicare by reason of age must equal, and may exceed, the minimum standards for Medicare supplement policies as contained in regulations promulgated by the commissioner."
SECTION 2. This act takes effect upon approval by the Governor.
Approved the 19th day of March, 1990.