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

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

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

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