State RegulationsIL specificDifficulty 1/5
In Illinois, traditional long-term care insurance policies are subject to 50 Ill. Adm. Code 2012. What does that rule govern?
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Answer & full 3-part explanation (select an option above, or peek)
Why C is correct
50 Ill. Adm. Code 2012 is the Illinois administrative rule Part implementing the long-term care insurance article of the Insurance Code, 215 ILCS 5/351A-1 and following. It governs LTC minimum standards, required policy provisions, and the consumer protections that apply to traditional LTC coverage, all under the supervision of the Illinois Department of Insurance.
Why the other options are wrong
- A) Medicare's beneficiary premiums are set by the federal Medicare program, not by an Illinois insurance administrative rule.
- B) Nursing facility licensing is a separate regulatory regime; 50 Ill. Adm. Code 2012 regulates LTC insurance policies, not care institutions.
- D) Annuity suitability is governed by other Illinois administrative rules; it is not the subject of the LTC rule Part.
Memory hook
Rule 2012 writes the LTC playbook: standards, provisions, protections.