§ 15-915. Conformity with federal law

   (a) In general. -- The Commissioner shall adopt reasonable regulations as necessary to conform Medicare supplement policies and certificates to the requirements of federal law and regulations.

(b) Specific regulations. -- The regulations may include, but are not limited to, provisions that:

   (1) require rate adjustments, credits, or refunds if the Medicare supplement policies or certificates do not meet loss ratio requirements;

   (2) establish a uniform methodology for calculating and reporting loss ratios;

   (3) ensure public access to policies, premiums, and loss ratio information of carriers of Medicare supplement insurance;

   (4) establish a process for approving or disapproving policy forms and certificate forms; and

   (5) establish a policy for holding public hearings before approval of premium increases and a process for approving or disapproving proposed schedules of premium changes.

HISTORY: An. Code 1957, art. 48A, § 468DA; 1997, ch. 35, § 2.