Notice is hereby given that a hearing will be held at 10:00 A.M. on July 12, 2005, at the offices of the Alabama Department of Insurance, 201 Monroe Street, Suite 1700, RSA Tower, Montgomery, Alabama, as follows:
Revision of Regulation No. 71 [Chapter 482-1-071], known as Medicare Supplement Insurance Minimum Standards regulation, as necessary to comply with the new federal law, the Medicare Prescription Drug, Improvement and Modernization Act of 2003. The proposed revisions are designed to cause this regulation to be substantially similar to the model regulation developed by the National Association of Insurance Commissioners. (118 pages)
Amendment of Rule No. 482-1-115-.03, also known as Section 3 of Regulation No. 115, which is known as the Alabama Health Insurance Plan regulation, so as to include short term insurance policies within the definition of “Health Insurance” for purposes of this regulation. (4 pages)
Adoption of new Regulation No. 134 [Chapter 482-1-134], to be known as the Health Insurance Reserves Regulation. The purpose of the new regulation is to set forth standards to individual and group health insurance coverages in accordance with the standard valuation law. This proposed new regulation is based upon the model regulation developed by the National Association of Insurance Commissioners. The proposed effective date of this new regulation will coincide with the effective date of the proposed repeal of existing Regulation No. 84. (25 pages)
Repeal of Regulation No. 84, known as the Reserve Standards for Individual Health Insurance Policies regulation, which became effective October 20, 1988. The provisions of this regulation will be superseded by the provisions of proposed new Regulation No. 134 [Chapter 482-1-134]. The proposed effective date of the repeal of this regulation will coincide with the effective date of new Regulation No. 134. (7 pages)
Any person wishing to submit testimony at said hearing is requested to submit said testimony in writing to the Alabama Department of Insurance, Attention: Legal Division, Post Office Box 303351, Montgomery, Alabama 36130-3351. Any written submission of testimony prior to the hearing will not preclude anyone from making an oral or written presentation at the hearing.
A copy of the regulations may be obtained by written request to the Alabama Department of Insurance, Post Office Box 303351, Montgomery, Alabama 36130-3351. The request must include payment of one dollar per page and a self-addressed, postage paid return envelope. An unofficial copy may also be obtained at no charge via electronic mail. You may send an e-mail request to tammy.holman@insurance.alabama.gov.