Converted policy means an individual policy of limited long-term care insurance providing benefits identical to or benefits determined by the commissioner to be substantially equivalent to or in excess of those provided under the group policy from which conversion is made. Where the group policy from which conversion is made restricts provision of benefits and services to, or contains incentives to use certain providers or facilities, the commissioner, in making a determination as to the substantial equivalency of benefits, shall take into consideration the differences between managed care and non-managed care plans, including, but not limited to, provider system arrangements, service availability, benefit levels, and administrative complexity.
Converted policy means an individual policy containing benefits identical to (or benefits the superintendent determines to be substantially equivalent to), or in excess of, the group policy from which conversion occurs. If the converted policy restricts benefits or services, or contains incentives for the insured to use certain health care providers or facilities, the superintendent may consider, in determining substantial equivalency, any difference between managed care and non-managed care plans, including such factors as provider system arrangements, availability of services, benefit levels and administrative complexity. There shall be credit for that portion of the waiting period satisfied, except with respect to an increase in benefits the insured voluntarily selects.
Converted policy means an individual policy of long-term care insurance providing benefits identical to, or benefits determined by the commissioner to be substantially equivalent to or in excess of, those provided under the group policy from which conversion is made.
Examples of Converted policy in a sentence
The number of qualified policies and certificates purchased during the quarter.d. The number of qualified policyholders and certificate holders who dropped their qualified policy or certificate during the quarter for any of the following reasons:(1) Death of insured.(2) Converted policy or certificate.(3) Maximum benefits expended.(4) Recision.(5) Voluntarily.
Converted policy information will not be available in Contact Partner and non-converted policies will show no values.
More Definitions of Converted policy
Converted policy means a health benefit plan issued pursuant to [insert reference in state law comparable to the Group Health Insurance Mandatory Conversion Privilege Model Act].
Converted policy means a basic or standard health benefit plan issued pursuant to [insert reference to state law comparable to the Group Health Insurance Mandatory Conversion Privilege Model Act].
Converted policy means the individual policy provided by group carriers pursuant to [insert reference to state law equivalent to the Group Health Insurance Mandatory Conversion Privilege Model Act].
Converted policy means an individual policy of long− term care insurance providing benefits identical to or benefits determined by the commissioner to be substantially equivalent to or in excess of those provided under the group policy from which conversion is made. Where the group policy form which conver- sion is made restricts provision of benefits and services to or con- tains incentives to use certain providers or facilities, the commis- sioner, in making a determination as to the substantial equivalency of the benefits, shall take into consideration the differences between managed−care and non−managed−care plans, including but not limited to, provider system arrangements, service availa- bility, benefit levels and administrative complexity. The con- verted policy offered shall be on a form generally available in the state.
Converted policy means a basic or standard health benefit plan issued pursuant to Section 13 of this Act.
Converted policy means an individual policy of long-term care insurance providing benefits identical to, or benefits
Converted policy or “Converted Policies” means all life insurance policies issued in Texas that were the subject of the Amended and Restated Coinsurance Agreement, dated as of December 28, 2015, which superseded the Coinsurance Agreement, dated as of October 1, 2013, between Respondents, and were transferred for administration by Alliance-One Services, Inc.