Current through Register Vol. 54, No. 44, November 2, 2024
(a)
General information. The
training requirements of this section are separate and independent from the
continuing education requirements for insurance producers. The satisfaction of
these training requirements by a nonresident insurance producer in his home
state shall be deemed to satisfy the training requirements in this
Commonwealth.
(b)
Long-term
care insurance.
(1) An individual may
not sell, solicit or negotiate long-term care insurance unless the individual
is licensed as an insurance producer for accident and health and has completed
the training required under paragraph (4).
(2) An individual already licensed as an
insurance producer and selling, soliciting or negotiating long-term care
insurance on April 1, 2011, may not continue to sell, solicit or negotiate
long-term care insurance unless the individual has completed the training
required under paragraph (4).
(3) A
course designed to provide the training required under paragraph (4) may be
approved as a continuing education course under section 602-A(a)(2) of the act
(40
P. S. §
310.2(a)(2)),
regarding powers and duties of Department.
(4) The following apply to the training
required by this paragraph:
(i) An insurance
producer, licensed as of April 1, 2011:
(A)
Who has not yet completed an 8-hour training course on long-term care insurance
shall complete at least 8 hours of training by April 1, 2012.
(B) That sells, solicits or negotiates
long-term care partnership policies shall complete, as part of the 8-hour
requirement, a 1-hour course related to the Medical Assistance Program
(Medicaid) prior to engaging in any marketing activity of partnership
policies.
(ii) An
individual, licensed after April 1, 2011, to sell long-term care insurance,
shall complete the requirements in subparagraph (i)(A) and (B) prior to
selling, soliciting or negotiating long-term care insurance.
(iii) The ongoing training requirement shall
be at least 4 hours in every subsequent 24 month licensing cycle.
(5) The training required under
paragraph (4) must consist of topics related to long-term care insurance,
long-term care services and, if applicable, qualified State long-term care
insurance partnership policies, including:
(i)
State and Federal regulations and requirements and the relationship between
qualified State long-term care insurance partnership policies and other public
and private coverage of long-term care services, including Medicaid.
(ii) Available long-term services and
providers.
(iii) Changes or
improvements in long-term care services or providers.
(iv) Alternatives to the purchase of private
long-term care insurance.
(v) The
effect of inflation on benefits and the importance of inflation
protection.
(vi) Consumer
suitability standards and guidelines.
(6) Completion of the training required under
paragraph (4) shall be sufficient to demonstrate evidence of an insurance
producer's understanding of the topic specified in paragraph (5)(i).
(7) The training required under paragraph (4)
may not include training that is product-specific to any insurer or company or
include any sales or marketing information, materials or training, other than
those required by State and Federal law.
(c)
Requirements for
insurers. Insurers writing long-term care insurance in this
Commonwealth shall do all of the following:
(1) Obtain proof that an insurance producer
has received the training required under this section before permitting the
insurance producer to sell, solicit or negotiate the insurer's long-term care
insurance products.
(2) Maintain
records as required under paragraph (1) in accordance with the Commonwealth's
record retention guidelines for insurers as published in the
Pennsylvania Bulletin.
(3) Make the information required under
paragraph (1) available to the Commissioner upon request.
(d)
Flood insurance.
Resident insurance producers who sell Federal flood insurance policies shall
comply with the minimum training requirements of section 207 of the
Bunning-Bereuter-Blunenauer Flood Insurance Reform Act of 2004 (42 U.S.C.A. §
4011) (Pub.L. No. 108-264) and basic
flood education as outlined at 70 FR 52117 (September 1, 2005) or later
requirements as published by the Federal Emergency Management Agency.
(e)
Compliance. An insurance
producer or insurer that fails to comply with this section shall be subject to
penalties in accordance with sections 611-A(2) and 691-A of the act
(40
P. S. §§
310.11(2)
and 310.91), regarding prohibited
acts and enforcement by the Department.
