Medicare Supplement Insurance Law and Legal Definition
Medicare supplement insurance refers to health insurance granted to elder citizens of the U.S. It is a contract providing supplement coverage for the hospital, medical or surgical expenses for the persons who are eligible for medicare by reason of age.
The following is an example of the state statute (Pennsylvania) defining medicare supplement insurance:
40 P.S. § 3102 states that medicare supplement insurance is a policy or contract of any professional, trade or occupational association for its members or former or retired members, or combination thereof, if such association:
1.is composed of individuals all of whom are actively engaged in the same profession, trade or occupation;
2. has been maintained in good faith for purposes other than obtaining insurance; and
3.has been in existence for at least two years prior to the date of its initial offering of such policy or plan to its members.
Legal Definition list
Related Legal Terms
- Accelerated Life Insurance Benefits
- Accident Insurance
- Accidental Death and Dismemberment [Insurance]
- Accommodation Line [Insurance]
- Accountants Professional Liability Insurance
- Accounts Receivable Insurance
- Actual Cash Value Insurance
- Actual Delivery of Insurance Policy
- Actuarial Documents [Federal Crop Insurance Corporation]
- Actuarially Appropriate [Federal Crop Insurance Corporation]
