Iowa Laws, Rules, and Regulations Pertinent to Health Only Questions with Verified Answers

Iowa Laws, Rules, and Regulations Pertinent to Health Only Questions with Verified Answers "Individual Health Insurance Reform Act" enacted to promote the availability of health insurance to individuals, to assure fair access to health plans, and to improve the overall fairness and efficiency of the individual health insurance market. -members include all insurers that provide health, accident and sickness insurance policies in Iowa -prevents abusive rating practices compels insurers to disclose their rating practices to consumers, sets rules for renewing coverage and sets limits on the exclusions or pre-existing conditions Eligible Individual -an Iowa residente who has qualifying existing coverage or has had qualifying existing coverage within the last 30 days. -individual who has and an event occur in the last 30 days that qualifies them for coverage. Required Provisions mandated provisions which must be included in all individual accident and health insurance policies issued in the state. Entire Contract Provision stating that the policy, including endorsements and attached papers, constitutes the entire contract. time limit on certain defenses Provision stating that 2 years after the date of issue no misstatements on the application can be used to void the policy or deny a claim unless the statements were fraudulent Grace Period Provision granting a grace period of at least 7 days for weekly premium policies -10 days for monthly premium policies -31 days for all other policies, for payment of each premium after the first. Notice of Claim Provision requiring that a written notice of claim must be given to the insurer within 20 days after the occurrence of any loss covered by the policy A Claim Forms Provision stating that the insurer, no later than 15 days after receiving notice of the claim must furnish the claimant with the forms required for filing proof of loss A proof of Loss Provision stating that the insured must furnish a completed claim form to the insurer within 90 days of the date of loss A Time Payment of Claims Provision stating that claims must be paid immediately upon receipt of written proof of a loss, unless provided by periodic payments Payment of Claims provision stating that indemnity for loss of life is payable according to beneficiary designation Physical