23-97-306. Extraterritorial jurisdiction — Group long-term care insurance.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-97-306. Extraterritorial jurisdiction — Group long-term care insurance.

23-97-306. Extraterritorial jurisdiction — Group long-term care insurance. No group long-term care insurance coverage may be offered to a resident of this state under a group policy issued in another state unless this state or another state having statutory and regulatory long-term care insurance requirements substantially similar to those adopted in this state determines that the definition of “group long-term care insurance” under § 23-97-304 has been met.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-97-306

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.

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Arkansas Code — all titles (historical 2020) · legal_authorities

23-97-304. Definitions.

23-97-304. Definitions. As used in this subchapter: (1) “Applicant” means: (A) In the case of an individual long-term care insurance policy, the person who seeks to contract for benefits; and (B) In the case of a group long-term care insurance policy, the proposed certificate holder; (2) “Association” means a professional, trade, or occupational association or associations, if the association: (A) Is composed entirely of individuals that are or were actively engaged in the same profession, trade, or occupation; and (B) Has been maintained in good faith for purposes other than obtaining insurance; (3) “Certificate” means any certificate issued under a group long-term care insurance policy delivered or issued for delivery in this state; (4) “Commissioner” means the Insurance Commissioner; (5) “Federally tax-qualified long-term care insurance contract” means: (A) An individual or group insurance contract that meets the following requirements of section 7702B(b) of the Internal Revenue Code of 1986: (i)(a) The only insurance protection provided under the contract is coverage of qualified long-term care services. (b) A contract satisfies the requirements of this subdivision (5)(A)(i) even though payments are made on a per diem or other periodic basis without regard to the expenses incurred during the period to which the payments relate; (ii)(a) The contract does not pay or reimburse expenses incurred for services or items to the extent that the expenses: (1) Are reimbursable under Title XVIII of the Social Security Act; or (2) Would be reimbursable but for the application of a deductible or coinsurance amount. (b) The requirements of this subdivision (5)(A)(ii) do not apply to expenses that are reimbursable under Title XVIII of the Social Sec

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-97-304

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-97-304. This identifies an authority to review, not proof of applicability.