§ 33-50-2. License Required to Transact Business; Health Plans of Municipalities, Counties, or Other Political Subdivisions
It is unlawful for any multiple employer self-insured health plan to transact business in this state without a license issued by the Commissioner. Any of the acts described as the transaction of insurance in Code Section 33-1-2, effected by mail or otherwise, by or on behalf of a multiple employer self-insured health plan constitutes the […]
§ 33-50-3. Application for License; Payment of Fees; Payment of Premium Taxes
Application for a license shall be made on forms prescribed by the Commissioner. Every multiple employer self-insured health plan shall pay to the Commissioner annual license fees, as established by rule or regulation of the Commissioner. Every multiple employer self-insured health plan shall be exempt from the payment of premium taxes on the plan’s net […]
§ 33-50-4. Filing of Bylaws, Schedules of Benefits, and Management, Administration, and Trust Agreements
At the time application for a license is made, the multiple employer self-insured health plan shall file with the Commissioner a copy of the plan’s bylaws, all schedules of benefits, and all management, administration, and trust agreements which the plan had made or proposes to make for the conduct of its business and affairs. Any […]
§ 33-50-5. Minimum Surplus; Capital Requirements; Security Deposit; Annual Audit; Aggregate Excess Stop-Loss Coverage; Individual Excess Stop-Loss Coverage
No multiple employer self-insured health plan shall be licensed unless it shall possess and thereafter maintain a minimum surplus of at least $200,000.00. A multiple employer self-insured health plan shall be subject to and comply with the applicable regulatory action level risk-based capital requirements prescribed by Chapter 56 of this title. Every multiple employer self-insured […]