Washington state schedules LTCI prompt-pay hearingNews added by National Underwriter on September 24, 2013
National Underwriter

National Underwriter

Joined: April 22, 2011

By Allison Bell

Insurance regulators in Washington state are implementing long-term care insurance (LTCI) prompt-payment rules developed by the National Association of Insurance Commissioners (NAIC).

The NAIC put the rules in its Long-Term Care Insurance Model Regulation, and state lawmakers enacted a statute that adopts the rules in Washington state earlier this year.

To put the new statute in effect, regulators have drafted rules that create a new definition of a "clean" LTCI claim and require an insurer to pay a clean claim within 30 days or else give its reason for denying the claim or seeking more information.

The provisions would not apply if the insurer had a reasonable basis supported by specific information to believe the claim was fraudulent.

Regulators plan to hold a hearing on the proposed regulations in Tumwater, Wash., Oct. 23.

Originally published on LifeHealthPro.com
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Post Press Release