This bill amends the Medicare Supplement Act to require issuers of Medicare supplement policies to provide an annual open enrollment period for eligible policyholders. The new section mandates that each eligible policyholder's open enrollment period begins on the first day of their birthday month and lasts for at least sixty days. During this period, eligible policyholders can purchase any Medicare supplement policy of equal or lesser value to their current policy, and issuers are required to guarantee the issuance of these policies without discrimination based on health status or medical conditions. Additionally, any new policy obtained during this period cannot impose coverage exclusions for preexisting conditions that were covered under the previous policy.

Furthermore, the bill stipulates that issuers must notify eligible policyholders at least thirty days but no more than sixty days before the open enrollment period begins. This notification must include the start and end dates of the enrollment period, the rights provided under the new provisions, and any modifications to the current policy or premium adjustments. The form and content of this notification must be approved by the superintendent of insurance before distribution. The provisions of this act are set to take effect on January 1, 2027.

Statutes affected:
introduced version: 59A-24A-3
Final Version: 59A-24A-3