Long-Term Care Insurance Standards Act of 1988

Summary

Long-Term Care Insurance Standards Act of 1988 - Amends title XVIII (Medicare) of the Social Security Act to require the Secretary of Health and Human Services to establish a procedure for the voluntary certification of long-term health insurance policies. Requires certified policies to: (1) meet or exceed National Association of Insurance Commissioners (NAIC) - related standards; (2) allow purchasers 30 days to rescind their purchase of the policy; (3) contain a statement of the availability of long-term care benefits under the Medicare program; (4) not limit or restrict eligibility to those who have previously been institutionalized or limit or restrict eligibility for benefits in a facility or in a home or community setting to those who have previously received a higher level of services; (5) limit eligibility for benefits only to services licensed in the State; (6) provide each policyholder with the telephone number of the State commissioner or superintendent of insurance; (7) provide, at the time of solicitation and at the time of issuance of the policy, a uniform disclosure statement describing specified aspects of the coverage; and (8) meet or exceed other requirements set by the Secretary. Conditions the certification of a policy which does not provide benefits for home and community-based services on the issuer of such policy offering a long-term care insurance policy which does provide such benefits. Deems a long-term care insurance policy to have satisfied the requirements of the Federal certification procedure if the State in which it is issued is determined by the Long-Term Care Insurance Panel, established pursuant to this Act, to have a regulatory program which is at least as stringent as the Federal procedure. Punishes by fine and/or imprisonment, an individual who knowingly: (1) misrepresents a policy's compliance with this Act's certification requirements; or (2) uses the mails to promote the sale or delivery of a policy into a State where such policy has not been approved by the State commissioner or superintendent of insurance. Deems a policy to have been approved by the State commissioner or superintendent of insurance if: (1) it has been certified by the Secretary or issued in a State that has an approved regulatory program; or (2) such commissioner or superintendent has the authority to bar the sale of the policy in the State, but neither he or she nor the State has done so. Requires the Secretary to provide Medicare beneficiaries with information that will enable them to evaluate long-term care insurance policies and the relationship of such policies to Medicare benefits. Directs the Secretary to: (1) inform Medicare beneficiaries of the practices that are subject to sanctions under this Act and the manner in which they may report such practices; and (2) publish the toll-free telephone number for reporting suspected prohibited practices. Requires the Secretary to furnish Medicare beneficiaries with a listing of the addresses and telephone numbers of State and Federal agencies and offices that provide individuals with information and assistance in selecting long-term care insurance policies.

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1 official file

• Introduced in House

  summary · EN · 14 July 1988

  Open at official source

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