Sec. 1. 24-A MRSA §5051-B, sub-§3 is enacted to read:

3.__Mandated offer of nonqualified long-term care policy. Notwithstanding any other provision of this chapter, an insurer, organization or plan offering a qualified long-term care insurance policy as defined under the United States Internal Revenue Code, Section 7702B shall also offer an equivalent nonqualified long-term care policy that does not incorporate federally required provisions and definitions under the United States Internal Revenue Code, Section 7702B.

SUMMARY

This bill requires insurers and nonprofit hospital and medical service organizations and nonprofit health care plans that offer federally qualified long-term care insurance policies to also offer similar nonqualified long-term care policies that do not contain the federally required contractual provisions and definitions.