31A-30-202.5 - Insurer participation in defined contribution arrangement market. - Utah Statutes

31A-30-202.5. Insurer participation in defined contribution arrangement market.
(1) A small employer carrier who chooses to participate in the defined contributionarrangement market:
(a) shall offer the defined contribution arrangement health benefit plans required bySection 31A-30-205;
(b) may:
(i) offer additional defined contribution arrangement health benefit plans in the HealthInsurance Exchange as permitted by Section 31A-30-205;
(ii) offer a defined benefit plan in the Health Insurance Exchange if the small employercarrier offers a defined contribution arrangement health benefit plan that is actuarially equivalentto the defined benefit plan that is offered in the Health Insurance Exchange; and
(iii) continue to offer defined benefit plans outside of the Health Insurance Exchange andthe defined contribution arrangement market, if the carrier uses the same rating and underwritingpractices in both the defined contribution arrangement market in the Health Insurance Exchangeand the defined benefit market outside the Health Insurance Exchange.
(2) A carrier that does not elect to participate in the defined contribution arrangementmarket by January 1, 2011, may not participate in the defined contribution arrangement market inthe Health Insurance Exchange until January 1, 2013.

Enacted by Chapter 68, 2010 General Session