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9 LONG TITLE
10 Committee Note:
11 The Health and Human Services Interim Committee recommended this bill.
12 General Description:
13 This bill amends provisions of the Insurance Code relating to the refund of unearned
14 health insurance premiums and Medicare supplement insurance premiums.
15 Highlighted Provisions:
16 This bill:
17 . defines the term "unearned amount of the collected premium";
18 . provides that, if a health insurance policy or a Medicare supplement policy is
19 cancelled for a reason other than a material misrepresentation, the insurer shall
20 refund the unearned amount of the collected premium;
21 . provides that, if an insurer cancels a health insurance policy or a Medicare
22 supplement policy because of a material misrepresentation on the application, the
23 insurer shall refund all premiums collected minus claims that have been paid; and
24 . makes technical changes.
25 Monies Appropriated in this Bill:
27 Other Special Clauses:
29 Utah Code Sections Affected:
31 31A-21-315, as last amended by Laws of Utah 1992, Chapter 230
33 Be it enacted by the Legislature of the state of Utah:
34 Section 1. Section 31A-21-315 is amended to read:
35 31A-21-315. Refund of canceled health insurance premiums and Medicare
36 supplement insurance premiums.
37 (1) As used in this section, "unearned amount of the collected premium" means the
38 amount of the collected premium applicable to the unexpired portion of the time period to
39 which the policy or certificate relates.
41 policy is cancelled for a reason other than a material misrepresentation, the insurer shall refund
42 the unearned [
44 policy because of a material misrepresentation on the application, the insurer shall refund all
45 premiums collected minus claims that have been paid.
Legislative Review Note
as of 10-20-08 10:35 AM