Section 500.3910b - Reduction options; applicability of section to long-term care policies and certificates issued on or after June 1, 2007(1) A long-term care insurance policy or certificate shall provide that a policyholder or certificateholder who wishes to reduce coverage and lower the policy or certificate premium may choose at least 1 of the following options: (a) Reducing the lifetime maximum benefit.(b) Reducing the daily, weekly, or monthly benefit amount.(2) In addition to the reduction options listed in subsection (1), a long-term care insurer may offer additional reduction options that are consistent with the policy or certificate design or the insurer's administrative processes.(3) A long-term care insurer shall include in the long-term care insurance policy or certificate a description of the ways in which coverage may be reduced and the process for requesting and implementing a reduction in coverage.(4) The age to determine the premium for reduced coverage shall be based on the age used to determine the premiums for the coverage currently in force.(5) A long-term care insurer may limit any reduction in coverage to plans available for that policy form and to those for which benefits will be available after consideration of claims paid or payable.(6) If a long-term care insurance policy or certificate is about to lapse, the insurer shall provide written notice to the insured of the options in subsection (1) to lower the premium by reducing coverage and of the premiums applicable to the reduced coverage options. The insurer may include in the notice additional options to those required in subsection (1). The notice shall provide the insured at least 30 days in which to elect to reduce coverage, and the policy or certificate shall be reinstated without underwriting if the insured elects the reduced coverage.(7) This section applies to long-term care policies and certificates issued on or after June 1, 2007.Added by 2006, Act 442,s 7 , eff. 10/19/2006.