The purpose and effect of this rule is to provide the required training standards for insurance agents who sell long term care insurance. This rule outlines training standards which are consistent with the NAIC’s recommended standards.

DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation

RULE NO: RULE TITLE
69O-157.1155: Producer Training
PURPOSE AND EFFECT: The purpose and effect of this rule is to provide the required training standards for insurance agents who sell long term care insurance. This rule outlines training standards which are consistent with the NAIC’s recommended standards.
SUBJECT AREA TO BE ADDRESSED: Training requirements for insurance agents who sell long term care insurance policies.
SPECIFIC AUTHORITY: 624.308(1), 626.9611, 627.9407, 627.94075, 627.9408 FS.
LAW IMPLEMENTED: 624.307(1), 626.025, 626.2815, 626.9641 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
TIME AND DATE: October 8, 2008, 9:30 a.m.
PLACE: 142 Larson Building, 200 East Gaines Street, Tallahassee, Florida
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Gerry Smith, Office of Insurance Regulation, E-mail [e-mail]. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Gerry Smith, Office of Insurance Regulation, E-mail [e-mail]

THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS:

69O-157.1155 Producer Training.

(1)(a) Insurers providing Long-Term Care insurance shall ensure shall maintain records, subject to Office review upon request, that before any producer sells, solicits or negotiates a long-term care insurance policy, that they:

1. Receive receive necessary and sufficient training, and

2. Demonstrate a full to understanding of the provisions of partnership policies and their relationship to public and private coverage for long-term care.

(b) The insurer shall maintain records verifying the required training. The records shall be made available to the Office upon request.

(2)(a) The training required pursuant to subparagraph 1., above shall include, at a minimum, a one-time training course by June 30, 2009. This initial one-time training course shall be no less than eight hours. The training shall include, but not be limited to the following topics:

1. State and federal regulations and requirements and the relationship between qualified state long-term care insurance Partnership programs and other public and private coverage of long-term care services, including Medicaid;

2. Available long-term services and providers;

3. Changes or improvements in long-term care services or providers;

4. Alternatives to the purchase of private long-term care insurance;

5. The effect of inflation on benefits and the importance of inflation protection; and

6. Consumer suitability standards and guidelines.

(b) Insurers providing Long Term Care insurance shall ensure that all producers also complete two hours of Florida-specific Long Term Care Partnership Program training. The two hours of Florida-specific training can be part of the eight-hour course in paragraph (2)(a) above. Producers who have previously satisfied the eight-hour training can meet Florida requirements by taking an additional two-hour course of Florida-specific content by June 30, 2009.

(3) Upon completion of the training required by subsection (2) above, the insurers providing Long-Term Care insurance shall ensure that producers complete ongoing long-term care insurance training of no less than four hours every 24 months.

(4) Satisfaction of the training requirements in any state shall be deemed to satisfy the training requirements under paragraph (2)(a) in this state subject to verification and compliance with the training requirements, except for the initial 2 hours of Florida specific Long Term Care Partnership training.

Specific Authority 624.308(1), 626.9611, 627.9407, 627.94075, 6927.9408 FS. Law Implemented 624.307(1), 626.025, 626.2815, 626.9541, 626.9641 FS. History–New 8-1-07, Amended__________.