Rule amendment fulfills Act 684 of 2017
LITTLE ROCK – Arkansas Insurance Commissioner Allen Kerr today released the following statement announcing that the Arkansas Insurance Department has amended AID Rule 27 to set a July 1, 2018 deadline for insurance carriers to sell Medicare supplemental policies to Arkansans under age 65 who are on Medicare due to disability:
“This rule is a benefit to Arkansas Medicare beneficiaries. I am grateful to Sen. Jason Rapert, Rep. John Payton, and the insurance industry for working with the Department to provide Arkansans under age 65 on Medicare due to disability the opportunity to purchase additional coverage should they choose to do so.”
Act 684 of 2017 required the Arkansas Insurance Department to amend AID Rule 27 to allow for the sale and purchase of Medigap coverage by Arkansans who are under 65 years of age and receive Medicare due to a disability. The amendment states that no later than July 1, 2018, at least one of the ten standardized Medicare supplement plans currently available from an insurance company shall be made available to those who qualify for Medicare by reason of disability. Insurance companies can begin to sell these products to consumers prior to the July 1 deadline.
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