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Maryland Blocks Sale Of Nonstandard Medigap Policies

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NU Online News Service, May 7, 2003, 5:05 p.m. EDT – United American Insurance Company, a unit of Torchmark Corp., Birmingham, Ala., has agreed to stop selling Medicare supplement health insurance policies through National Employee Benefit Companies Inc. and the Retired Employees Benefit Coalition in Maryland to Bethlehem Steel retirees, according to the Maryland Insurance Administration.

More than 800 retirees applied for the policies, but the policies failed to provide the standard benefits required by the state and federal laws governing Medicare supplement insurance policies, Maryland regulators say.

United American has entered into a consent agreement that calls for it to stop selling the policies in Maryland and to return the applications and premiums paid by applicants by May 12, Maryland insurance regulators say.


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