(a) A person may not establish or maintain a self-funded multiple employer welfare arrangement except as authorized by a subsisting certificate of authority issued to the arrangement by the director. (b) A self-funded multiple employer welfare arrangement is established or maintained in this state if (1) one or more of the employer members participating in […]
A self-funded multiple employer welfare arrangement may not use a name that includes the words “insurance,” “casualty,” “surety,” “health and accident,” “mutual,” or other terms descriptive of an insurer or insurance business. A self-funded multiple employer welfare arrangement may not have or use a name that is the same as or so similar to that […]
(a) The director may not issue a certificate of authority to a self-funded multiple employer welfare arrangement unless the arrangement establishes to the satisfaction of the director that (1) employers participating in the arrangement are members of a bona fide association or group of two or more businesses in the same or a closely related […]
To apply for an original certificate of authority, a self-funded multiple employer welfare arrangement shall file with the director its application, accompanied by the applicable fees set under AS 21.06.250, showing its name, the location of its home office, its date of organization, its state of domicile, and additional information that the director may reasonably […]
A self-funded multiple employer welfare arrangement shall establish and maintain reserves equal to the greater of (1) 30 percent of the unpaid claim liability of the arrangement; or (2) the amount recommended and certified by a qualified actuary.
A multiple employer welfare arrangement shall maintain an amount at least equal to 85 percent of net unpaid claim liability in (1) cash and cash equivalents; (2) the fully insured portion of a bank deposit when the insurance is provided by a solvent agency of the United States government or by collateral; (3) a bank […]
(a) A self-funded multiple employer welfare arrangement shall establish and maintain contribution rates that (1) fund the greater of (A) the amount recommended and certified by a qualified actuary in order for the self-funded multiple employer welfare arrangement to remain financially solvent; or (B) the sum of projected claims liability for the year, plus all […]
(a) A self-funded multiple employer welfare arrangement shall annually, before March 2, file with the director on forms prescribed by the director, a full and true statement of its financial condition, transactions, and affairs as of the preceding December 31, including (1) a statement of financial condition; (2) a statement of change in financial condition […]
A self-funded multiple employer welfare arrangement must provide a written notice to each participating employee at the time that coverage becomes effective. The notice must (1) be clear and conspicuous; (2) be in at least 10-point type; (3) state that (A) the coverage is issued by a self-funded multiple employer welfare arrangement; (B) coverage and […]
In addition to the provisions contained or referred to in this chapter, the following chapters and provisions of this title also apply with respect to self-funded multiple employer welfare arrangements to the extent applicable and not in conflict with the express provisions of this chapter and the reasonable implications of the express provisions, and, for […]
In this chapter, (1) “allowable benefit” means a benefit for medical care; (2) “bona fide association” has the meaning given in AS 21.54.500; (3) “claims liability” means the total of all incurred and unpaid claims for allowable benefits under a self-funded multiple employer welfare arrangement that are not reimbursed or reimbursable by stop-loss insurance, subrogation, […]
