State RegulationsIL specificDifficulty 1/5
The definitions and standards in the Illinois minimum-standards regulation apply to which coverage?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
50 Ill. Adm. Code 2007 is titled to individual accident and health insurance policies, and its purpose, definitions, prohibited provisions, benefit standards, and disclosure and replacement requirements attach to that product line. Group coverage is regulated separately, and Medicare supplement policies carry their own disclosure rule, 50 Ill. Adm. Code 2008, under the Medicare supplement provisions of the Illinois Insurance Code such as 215 ILCS 5/363 and 215 ILCS 5/363a. Knowing the scope line keeps the three regimes from being conflated on the exam.
Why the other options are wrong
- B) The regulation governs individual A&H policies; group accident and health coverage is not its subject.
- C) Medicare supplement policies have their own disclosure rule, 50 Ill. Adm. Code 2008; the minimum-standards regulation is not limited to Medicare supplements.
- D) The minimum-standards regulation addresses insurance policies covering accident and health risks, not property and casualty forms with incidental health components.
Memory hook
2007 is for individuals; group and Med supp live elsewhere.