West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-17 - Medicare Supplement Insurance Coverage
Section 114-17-7 - Loss Ratio Standards

Universal Citation: 114 WV Code of State Rules 114-17-7

Current through Register Vol. XLI, No. 38, September 20, 2024

7.1. Aggregate benefits. -- Medicare Supplement or Limited Benefit Medicare Supplement policies or contracts shall be expected to return to policyholders in the form of aggregate benefits under the policy, as estimated for the entire period for which rates are computed to provide coverage, on the basis of incurred claims experience and earned premiums for such period and in accordance with accepted actuarial principles and practices:

(a) In the case of individual policies or contracts, at least sixty percent (60%) of the aggregate amount of premiums collected; and

(b) In the case of group policies, contracts or certificates, at least seventy-five percent (75%) of the aggregate amount of premiums collected.

7.2. Mail or mass media advertising. -- For purposes of this section, Medicare Supplement or Limited Benefit Medicare Supplement group policies or contracts issued as a result of solicitations of individuals through the mail or mass media advertising, including both print and broadcast advertising, shall be deemed to be individual policies.

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