Nebraska Statutes 44-4508. Group policy, defined
Group policy shall mean a long-term care insurance policy which is delivered or issued for delivery in this state and issued to:
Terms Used In Nebraska Statutes 44-4508
- Director: shall mean the Director of Insurance. See Nebraska Statutes 44-4507
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Group policy: shall mean a long-term care insurance policy which is delivered or issued for delivery in this state and issued to:
(1) One or more employers or labor organizations or a trust or the trustees of a fund established by one or more employers or labor organizations, or a combination thereof, for employees or former employees, or a combination thereof, or for members or former members, or a combination thereof, of the labor organizations. See Nebraska Statutes 44-4508
- Insurer: shall include all companies, exchanges, societies, or associations whether organized on the stock, mutual, assessment, or fraternal plan of insurance and reciprocal insurance exchanges. See Nebraska Statutes 44-103
- Long-term care insurance: shall mean any insurance policy or rider advertised, marketed, offered, or designed to provide coverage for not less than twelve consecutive months for each covered person on an expense-incurred, indemnity, prepaid, or other basis for one or more necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services provided in a setting other than an acute care unit of a hospital. See Nebraska Statutes 44-4509
- Policy: shall mean any individual or group policy, contract, subscriber agreement, rider, or endorsement delivered or issued for delivery in this state by an insurer, fraternal benefit society, prepaid health plan, health maintenance organization, or any similar organization. See Nebraska Statutes 44-4510
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- Trustee: A person or institution holding and administering property in trust.
- Year: shall mean calendar year. See Nebraska Statutes 49-801
(1) One or more employers or labor organizations or a trust or the trustees of a fund established by one or more employers or labor organizations, or a combination thereof, for employees or former employees, or a combination thereof, or for members or former members, or a combination thereof, of the labor organizations;
(2) Any professional, trade, or occupational association for its members or former or retired members, or a combination thereof, if such association:
(a) Is composed of individuals all of whom are or were actively engaged in the same profession, trade, or occupation; and
(b) Has been maintained in good faith for purposes other than obtaining insurance;
(3) An association or a trust or the trustee of a fund established, created, or maintained for the benefit of members of one or more associations. Prior to advertising, marketing, or offering such policy within this state, the association or associations or the insurer of the association or associations shall file evidence with the director that the association or associations have at the outset a minimum of one hundred members, have been organized and maintained in good faith for purposes other than that of obtaining insurance, have been in active existence for at least one year, and have a constitution and bylaws which provide that (a) the association or associations hold regular meetings not less than annually to further purposes of the members, (b) except for credit unions, the association or associations collect dues or solicit contributions from members, and (c) the members have voting privileges and representation on the governing board and committees. Thirty days after such filing, the association or associations shall be deemed to satisfy such organizational requirements unless the director makes a finding that the association or associations do not satisfy those organizational requirements; or
(4) A group other than as described in subdivision (1), (2), or (3) of this section, subject to a finding by the director that:
(a) The issuance of the group policy is not contrary to the best interest of the public;
(b) The issuance of the group policy would result in economies of acquisition or administration; and
(c) The benefits are reasonable in relation to the premiums charged.