376.1005. Application for certificate of authority, form--fee--policy or other evidence of coverage provided to employees, form. - Missouri Statutes

Application for certificate of authority, form--fee--policy or otherevidence of coverage provided to employees, form.

376.1005. 1. Application for a certificate of authority shall be madeon forms prescribed by the director of the department of insurance, financialinstitutions and professional registration. No multiple employer self-insuredhealth plan may hold or obtain a certificate of authority unless it had notless than two hundred fifty covered employees during the preceding calendarquarter.

2. Not later than March first of each year, every multiple employerself-insured health plan shall pay to the director a license fee equal to twopercent of the Missouri claims paid by the plan during the immediatelypreceding calendar year. All the funds collected by the director shall bedeposited in the Missouri department of insurance, financial institutions andprofessional registration dedicated fund.

3. Within forty-five days from the date coverage commences, the planshall issue to each covered employee a policy, contract, certificate, summaryplan description or other evidence of the benefits and coverages provided.This evidence of the benefits and coverages provided shall contain inboldfaced print in a conspicuous location, the following statement: "Thebenefits and coverages described herein are provided through a trust fundestablished and funded by a group of employers. The benefits and coveragesare not fully insured by an insurer licensed to do business in the state ofMissouri and are therefore not protected by the Missouri Life and HealthGuaranty Association".

(L. 1993 H.B. 709 § 24)