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Colorado Laws, Rules, and Regulations Pertinent to Sickness and Accident and Health Insurance Only

Terms in this set (20)

Maternity coverage must be provided on employer group health policies, unless the employer has fewer than ___full-time employees.
15 employees
A newborn child is covered from birth for ___ days
31 days
If required, notification of birth and premium must be paid within ___ days
31 days
Grace Period:

Health plans issued to persons receiving a federal subsidy to help pay for coverage must contain a ___ month grace period.
3 month
Grace Period:

Health plans issued to persons NOT receiving a federal subsidy to help pay for coverage must contain a ___ day grace period
31 day
Small Group Health Benefit Plans:

Number of eligible full-time employees for small group health plans
1 to 100
Small Group Health Benefit Plans:

To be considered an eligible employee, the minimum hours worked must be more than ___ hours
30 hours
Small Group Health Benefit Plans:

Waiting period may not exceed __ days
90 days
Medicare Supplement:

Maximum preexisting condition exclusion period
6 months
Medicare Supplement:

Open enrollment period is the ___-month period after an individual is both age 65 or older and is first enrolled in Medicare Part B
6 month
Long Term Care Insurance:
Incontestibility Period

If a long-term care policy has been in force for less than ___ months, an insurer may rescind the policy or deny a claim due to material misrepresentation
6 months
Long Term Care Insurance:
Incontestibility Period

If the policy has been in force for at least 6 months but less than ___ years, an insurer may rescind the policy or deny a claim if it can show that it issued the policy upon a material misrepresentation that relates to the claim.
2 years
Long Term Care Insurance:
Incontestibility Period

If the policy has been in force for at least ___ years, an insurer may contest a policy only if the insured knowingly and intentionally misrepresented relevant facts concerning his health
2 years
Long Term Care Insurance:

Insurers must offer inflation protection that increases benefit levels at an annual rate not less than ___%
5%
Long Term Care Insurance:
Anti-Lapse Protection

If the policy lapses due to nonpayment of premium by a policyholder with a cognitive impairment, the carrier must provide a ___-day reinstatement period
90-day
Long Term Care Insurance:
Anti-Lapse Protection

Maximum preexisting condition exclusion period
6 months
Long Term Care Insurance:
Anti-Lapse Protection

Violators of long-term care insurance laws are subject to a fine of ___ times the amount of commissions paid, or up to $____, whichever is greater
3 times the amount of commissions paid, $10,000
Long Term Care Insurance:
LTC Continuing Education

Producer must complete a one-time ___hour LTC training course
16 hours
Long Term Care Insurance:
LTC Continuing Education

Every 24 months the producer must complete ate least ___ hours of LTC CE
5 hours
Long Term Care Insurance:

Colorado Long Term Care Partnership policies permit individuals to protect assets from the state's Medicaid program. The asset eligibility and recovery provisions of the CO Medicaid program disregard assets equal to ___
Amount of benefits received from policy
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