Required disclosure statements

Every application for benefits and every benefit plan issued by a multiple employer self-insured health plan shall contain in contrasting color, in not less than ten-point type, the following statements: (1) The plan is a self-insured plan, and benefits are not guaranteed by a licensed insurer; (2) The plan is not covered by the Georgia Life and Health Guaranty Association; (3) This is a fully assessable benefit plan. In the event that the multiple employer self-insured health plan is unable to pay its obligations, participating employers shall be required to contribute on a joint and several basis the funds necessary to meet any unpaid obligations; and (4) Certain other major protections offered to Georgia residents under the Georgia Insurance Code and Rules and Regulations, such 957 33-50-9 as conversion rights and certain mandated or required benefits, may not be available through the multiple employer self-insured plan. History. — Code 1981, § 33-50-7, enacted by Ga. L. 1991, p. 1021, § 1; Ga. L. 2010, p. 757, § 5/SB 310. 33-50-8. Health plans subject to examinations.