304.14-650 Definition for KRS 304.14-650 to 304.14-675.
As used in KRS 304.14-650 to 304.14-675, "short-term nursing home insurance policies"
means any insurance policy or rider advertised, marketed, offered, or designed to provide
coverage for less than twelve (12) consecutive months for each covered person on an
expense-incurred, indemnity, prepaid, or other basis for one (1) or more necessary or
medically necessary diagnostic, preventative, therapeutic, rehabilitative, maintenance, or
personal care services, provided in a setting other than an acute care unit of a hospital
unless the hospital or unit is licensed or certified to provide services in a skilled nursing
facility, extended care facility, intermediate care facility, convalescent nursing home,
personal care facility, home health care agency, adult day care facility, and assisted living
facility. This term shall also include a policy or rider that provides for payment of benefits
based upon cognitive impairment or loss of functional capacity. Short-term nursing home
insurance policies may be issued by insurers, fraternal benefit societies, nonprofit
hospitals, medical-surgical, dental, and health services corporations, health maintenance
organizations, or any similar organization to the extent they are otherwise authorized to
issued life or health insurance. Short-term nursing home insurance policies shall not
include any insurance policy which is offered primarily to provide basic Medicare
supplement coverage, basic hospital expense coverage, basic medical-surgical expense
coverage, hospital confinement indemnity, major medical expense coverage, disability
income or related-asset protection coverage, accident only coverage, specified disease or
specified accident coverage.
Effective: July 13, 2004
History: Amended 2004 Ky. Acts ch. 157, sec. 1, effective July 13, 2004. -- Created
2002 Ky. Acts ch. 304, sec. 1, effective July 15, 2002.
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