The Director may, after notice and hearing, promulgate reasonable rules and regulations as are necessary and proper to:
     (1) Establish minimum coverage standards for basic health care services, the application of which standards discriminate against no class of physician;

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     (2) Establish specific standards, including standards for the full and fair disclosure of health care services provided by group contracts or evidences of coverage which may cover but shall not be limited to:
     (a) Coordination of benefits
     (b) Conversion
     (c) Cancellation and termination
     (d) Deductibles and co-payments
     (e) Pre-existing conditions; and
     (3) Otherwise carry out the provisions of this Act.