Requirements for insurer offering fully insured health benefit plan through association

A health insurer offering a fully insured health benefit plan through an association shall:

(1) Guarantee acceptance of all eligible individuals under the employer members' association or fully insured multiple employer arrangement and, if coverage is offered to spouses and dependents, to all of the spouses and dependents;

(2) Provide a bronze health plan that has an actuarial value of sixty percent;

(3) Comply with all applicable state mandates; and

(4) Have premium rates that meet a minimum loss ratio of eighty-five percent.

Source: SL 2019, ch 212, § 5.