September 22, 2015
On Sept. 1, 2015, the Delaware Department of Insurance issued Bulletin No. 76, which clarifies the state’s requirements related to individual hospital or other fixed indemnity policies.. For any policies issued on or after Jan. 1, 2015, the policies must meet the following criteria to be in compliance with federal and state law:
The insurance application must include an attestation that the insured has minimum essential coverage under another policy or plan.The application must also include model notice language indicating that the policy is a supplement for health insurance and is not a substitute for major medical coverage. The notice must also inform the insured that the lack of minimum essential coverage may result in a tax penalty.
Employers who make such coverage available to employees should be aware of the new requirements.
Bulletin No. 76 »