(1) The purpose of this subchapter is to:

(a) provide for the reasonable standardization of coverage and simplification of terms and benefits of medicare supplement policies;

(b) facilitate public understanding and comparison of such policies;

(c) eliminate provisions contained in such policies which may be misleading or confusing in connection with the purchase of such policies or with the settlement of claims; and

(d) provide for full disclosures in the sale of accident and sickness insurance coverages to persons eligible for medicare.