The commissioner shall not issue a certificate of compliance to a self-funded or partially self-funded multiple employer welfare arrangement unless the employers participating in the multiple employer welfare arrangement are members of a bona fide trade, industrial, or professional association as described in subdivision (b) of Section 742.24.

(Added by Stats. 1994, Ch. 1082, Sec. 1. Effective January 1, 1995.)

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Terms Used In California Insurance Code 742.30

  • Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
  • Multiple employer welfare arrangement: as used in this article has the same meaning as that contained in Section 1002(40)(A) of Title 29 of the United States Code. See California Insurance Code 742.21
  • Partially self-funded: means a multiple employer welfare arrangement that undertook at all times and for a continuous period of five years to reimburse health benefit costs incurred by covered persons pursuant to the benefits and coverages provided by their plan exclusively from plan assets, provided, however, that these benefits are reimbursable to the multiple employer welfare arrangement by stop loss insurance only to the extent that the benefits exceed fifty thousand dollars ($50,000) per claim. See California Insurance Code 742.215
  • self-funded: means a multiple employer welfare arrangement that undertook at all times and for a continuous period of five years to reimburse health benefit costs incurred by covered persons pursuant to the benefits and coverages provided by their plan exclusively from plan assets. See California Insurance Code 742.215
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