North Dakota Code 54-52.1-04.3 – Self-insurance health plan – Reserve fund – Continuing appropriation – Benefits – Insurance commissioner
1. Pursuant to chapter 26.1-36.6, the board shall establish and maintain under a self-insurance health plan a reserve fund to provide for adverse fluctuations in future charges, claims, costs, or expenses of the uniform group insurance program. Upon the initial changeover from a contract for insurance pursuant to section 54-52.1-04 or a health maintenance organization pursuant to section 54-52.1-04.1 to a self-insurance health plan pursuant to section 54-52.1-04.2, the board must have a plan in place which is reasonably calculated to meet within sixty months of the changeover the funding requirements of chapter 26.1-36.6. All moneys in the reserve fund, not otherwise appropriated, are appropriated to the board for the payment of claims and other costs of the uniform group insurance program during periods of adverse claims or cost fluctuations.
Terms Used In North Dakota Code 54-52.1-04.3
- Contract: A legal written agreement that becomes binding when signed.
- Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49
2. A self-insurance health plan must comply with section 26.1-36.6-03 and must provide the same benefits required of a fully insured plan.
3. The insurance commissioner shall ensure compliance with and enforce the provisions of this section pursuant to chapter 26.1-36.6.