Section 303 – Stop-loss insurance disclosure.

Effective 5/8/2018
31A-43-303. Stop-loss insurance disclosure.
A stop-loss insurance contract delivered, issued for delivery, or entered into shall include the disclosure exhibit required by the commissioner through administrative rule, which shall include at least the following information:

• (1) the complete costs for the stop-loss contract;

• (2) the date on which the insurance takes effect and terminates, including renewability provisions;

• (3) the aggregate attachment point and the specific attachment point;

• (4) limitations on coverage;

• (5) an explanation of monthly accommodation and disclosure about any monthly accommodation features included in the stop-loss contract;

• (6) a description of terminal liability funding, including the cost of processing claims before and after the termination of the contract;

• (7) maximum claims liability to the employer; and

• (8) a summary of the policy.

Amended by Chapter 319, 2018 General Session