§ 135-44.5. Health benefit trust funds created. - North Carolina Statutes

§ 135‑44.5.  Healthbenefit trust funds created.

(a)        There are herebyestablished two health benefit trust funds, to be known as the Public EmployeeHealth Benefit Fund and the Health Benefit Reserve Fund for the payment ofhospital and medical benefits. As used in this section, the term "healthbenefit trust funds" refers to the fund type described under G.S. 143C‑1‑3(a)(10).

All premiums, fees, charges,rebates, refunds or any other receipts including, but not limited to, earningson investments, occurring or arising in connection with health benefitsprograms established by this Article, shall be deposited into the PublicEmployee Health Benefit Fund. Disbursements from the Fund shall include any andall amounts required to pay the benefits and administrative costs of suchprograms as may be determined by the Executive Administrator and Board ofTrustees.

Any unencumbered balance inexcess of prepaid premiums or charges in the Public Employee Health BenefitFund at the end of each fiscal year shall be used first, to provide anactuarially determined Health Benefit Reserve Fund for incurred but unpresentedclaims, second, to reduce the premiums required in providing the benefits ofthe health benefits programs, and third to improve the plan, as may be providedby the General Assembly. The balance in the Health Benefits Reserve Fund may betransferred from time to time to the Public Employee Health Benefit Fund toprovide for any deficiency occurring therein.

The Public Employee HealthBenefit Fund and the Health Benefit Reserve Fund shall be deposited with theState Treasurer and invested as provided in G.S. 147‑69.2 and 147‑69.3.

(b)        Disbursement fromthe Public Employee Health Benefit Fund may be made by warrant drawn on theState Treasurer by the Executive Administrator, or the Executive Administratorand Board of Trustees may by contract authorize the Claims Processors to drawthe warrant.

(c)        Separate and apartfrom the health benefit trust funds authorized by subsections (a) and (b) ofthis section, there shall be a Public Employee Long‑Term Care BenefitFund if the long‑term care benefits provided by Part 4 of this Articleare administered on a self‑insured basis.

(d)        Repealed by SessionLaws 2008‑107, s. 10.13(a), effective July 1, 2008.  (1981 (Reg. Sess., 1982), c.1398, s. 6; 1985, c. 732, ss. 43, 63; 1985 (Reg. Sess., 1986), c. 1020, s. 20;1997‑468, s. 3; 1998‑1, s. 4(d); 2008‑107, s. 10.13(a); 2008‑168,ss. 1(a), 2(a), (l).)