12/08/2009
Clarification on rules for custom contracts
The OIC has clarified that if we sell a custom contract (a large-group contract that is different from our standard large-group contract filed with the regulator), it must be filed within 30 days after the coverage effective date. In order to consistently meet this requirement, we are immediately implementing the following changes:
- Custom contracts will be based on our standard contract language. The standard language will be revised to reflect changes required by law and the agreed-upon changes your client requested as set forth in the group plan submission documents.
- Only benefits and eligibility provisions may be changed.
- Your Asuris sales contact can provide you with standard contract language for your review.
- A custom contract will be filed within the timeframe required by law.
These laws are in place to protect your clients and will result in a more timely production of contracts and benefit brochures.
If you have any questions, please talk to your Asuris Sales contact.
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