§431:10A-403  Association of insurers;
policyholder; policy.  (a)  Any insurer may join with one or more other
insurers to plan, develop, underwrite, offer and provide to any person who is
sixty-five years of age or older and to the spouse of such person, extended
health insurance against financial loss from accident or disease, or both.  The
insurance may be offered, issued and administered jointly by two or more
insurers by a group policy issued to a policyholder through an association
formed for the purpose of offering, selling, issuing and administering such
insurance.



(b)  The policyholder may be an association, a
trustee, or any other person.  A master group policy issued to an association
or to a trustee or any person appointed by an association for the purpose of
providing the insurances described in this part shall be another form of group
disability insurance.



Any form of policy approved by the commissioner
for an association shall be offered throughout the State to all persons
sixty-five and older and their spouses, and the coverage of any person insured
under such a form of policy shall not be cancellable except for nonpayment of
premiums unless the coverage of all persons insured under such form of policy
is also cancelled.



(c)  Any such policy may provide, among other
things, that the benefits payable under the policy are subject to reduction if
the individual insured has any other coverage providing hospital, surgical or
medical benefits whether on an indemnity basis or a provision of service basis
resulting in such insured being eligible for more than one hundred per cent of
covered expenses which the insured is required to pay.  Any insurer issuing
individual policies providing extended hospital, surgical or medical benefits
to persons sixty-five years of age and older and their spouses may also use
such a policy provision. [L 1987, c 347, pt of §2]