How SB 21 changes current law

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill establishes a requirement for issuers of Medicare supplement policies to provide annual open enrollment periods for eligible policyholders.

• Section 59A-24A-3

  A new section of the Medicare Supplement Act is enacted to read: "ANNUAL OPEN ENROLLMENT.-- A. Every issuer participating in the market for medicare supplement policies shall offer an annual open enrollment period to all eligible policyholders. Each eligible policyholder's open enrollment period shall commence with the first day of the eligible policyholder's birthday month and remain open for at least sixty days thereafter. During the open enrollment period: (1) each eligible policyholder may purchase any medicare supplement policy of an equal or lesser value to the eligible policyholder's current medicare supplement policy offered in this state; and (2) an issuer shall: (a) guarantee the issuance of any medicare supplement policy offered in this state; and (b) not deny, delay or condition the issuance or effectiveness, or discriminate in the price of coverage, of a medicare supplement policy based on the health status, claims, experience, receipt of health care or medical condition of an eligible policyholder. B. A medicare supplement policy obtained by an eligible policyholder pursuant to Subsection A of this section shall not have any coverage exclusions related to preexisting conditions that would have been covered under the eligible policyholder's previous medicare supplement policy. C. At least thirty days before the beginning of an eligible policyholder's open enrollment period, but not more than sixty days before the beginning of the open enrollment period, the issuer of an eligible policyholder's medicare supplement policy shall notify the eligible policyholder of: (1) the dates on which the open enrollment period begins and ends; (2) the rights provided to the eligible policyholder by this section; and (3) any modifications to the medicare supplement policy currently held by the eligible policyholder or any adjustments to the premiums charged for that policy. D. The form and content of the notification required pursuant to Subsection C of this section shall be filed with and approved by the superintendent prior to distribution to eligible policyholders."

  This newly enacted section mandates annual open enrollment periods for all eligible Medicare supplement policyholders.