Group and self-insured plans — tax exemption — plan approval.

; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; courier new tur ; arial (vietnamese) ; courier new (arabic) ; times new roman ce ; tahoma (vietnamese) ; arial (hebrew) ; times new roman cyr ; courier new greek ; symbol ; tahoma (hebrew) ; arial ; arial baltic ; arial tur ; times new roman (arabic) ; courier new ; imperial bt ; tahoma ce ; wingdings ; tahoma cyr ; times new roman tur ; courier new ce ; tahoma ; courier new (hebrew) ; arial (arabic) ; courier new baltic ; courier new cyr ; times new roman ; tahoma baltic ; tahoma (arabic) ; arial ce ; courier new (vietnamese) ; tahoma (thai) ; times new roman greek ; tahoma greek ; tahoma tur ; times new roman (hebrew) ; times new roman baltic ; times new roman (vietnamese) ; arial greek ; arial cyr ; \* .;
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 ?; ; ; Normal ; heading 1 ; heading 2 ; heading 3 ; heading 4 ; heading 5 ; heading 6 ; heading 7 ; heading 8 ; heading 9 ; Balloon Text ; Block Text ; Body Text ; Body Text 2 ; Body Text 3 ; Body Text First Indent ; Body Text First Indent 2 ; Body Text Indent 2 ; Body Text Indent 3 ; caption ; Closing ; annotation text ; annotation subject ; Date ; Document Map ; E-mail Signature ; endnote text ; envelope address ; envelope return ; footer ; footnote text ; header ; HTML Address ; HTML Preformatted ; index 1 ; index 2 ; index 3 ; index 4 ; index 5 ; index 6 ; index 7 ; index 8 ; index 9 ; index heading ; List ; List 2 ; List 3 ; List 4 ; List 5 ; List Bullet ; List Bullet 2 ; List Bullet 3 ; List Bullet 4 ; List Bullet 5 ; List Continue ; List Continue 2 ; List Continue 3 ; List Continue 4 ; List Continue 5 ; List Number ; List Number 2 ; List Number 3 ; List Number 4 ; List Number 5 ; macro ; Message Header ; Normal (Web) ; Normal Indent ; Note Heading ; Plain Text ; Salutation ; Signature ; Subtitle ; table of authorities ; table of figures ; Title ; toa heading ; toc 1 ; toc 2 ; toc 3 ; toc 4 ; toc 5 ; toc 6 ; toc 7 ; toc 8 ; toc 9 ; \~\~ \~\~ \~\~ \~\~ \~\~ 87.4 \~\~ Group and self-insured plans — tax exemption — plan approval. \~\~ 1. \~\~ For the purpose of complying with this chapter , groups of employers by themselves or in an association with any or all of their workers, may form insurance associations as hereafter provided, subject to such reasonable conditions and restrictions as may be fixed by the insurance commissioner; and membership in such mutual insurance organization as approved, together with evidence of the payment of premiums due, shall be evidence of compliance with this chapter . \~\~ 2. \~\~ A self-insurance association formed under this section and an association comprised of cities or counties, or both, or the association of Iowa fairs or a fair as defined in section 174.1 , or community colleges as defined in section 260C.2 or school corporations, or both, or other political subdivisions, which have entered into an agreement under chapter 28E for the purpose of establishing a self-insured program for the payment of workers’ compensation benefits are exempt from taxation under section 432.1 . \~\~ 3. \~\~ A plan shall be submitted to the commissioner of insurance for review and approval prior to its implementation. The commissioner shall adopt rules for the review and approval of a self-insured group plan provided under this section . The rules shall include but are not limited to the following: \~\~ a. \~\~ Procedures for submitting a plan for approval including the establishment of a fee schedule to cover the costs of conducting the review. \~\~ b. \~\~ Establishment of minimum financial standards to ensure the ability of the plan to adequately cover the reasonably anticipated expenses. \~\~ 4. \~\~ A self-insured program for the payment of workers’ compensation benefits established by an association comprised of cities or counties, or both, or the association of Iowa fairs or a fair as defined in section 174.1 , or community colleges, as defined in section 260C.2 , or other political subdivisions, which have entered into an agreement under chapter 28E , is not insurance, and is not subject to regulation under chapters 505 through 523C . Membership in such an association together with payment of premiums due relieves the member from obtaining insurance as required in section 87.1 . Such an association is not required to submit its plan or program to the commissioner of insurance for review and approval prior to its implementation and is not subject to rules or rates adopted by the commissioner relating to workers’ compensation group self-insurance programs. Such a program is deemed to be in compliance with this chapter . \~\~ 5. \~\~ The workers’ compensation premium written on a municipality which is a member of an insurance pool which provides workers’ compensation insurance coverage to a statewide group of municipalities, as defined in section 670.1 , shall not be considered in the determination of any assessments levied pursuant to an agreement established under section 515A.15 . [S13, §2477-m42; C24, 27, 31, 35, 39, § 1470; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §87.4 ] 85 Acts, ch 251, §1 ; 88 Acts, ch 1112, §201, 202 ; 89 Acts, ch 83, §19 ; 90 Acts, ch 1067, §1, 2 ; 95 Acts, ch 185, §1 ; 97 Acts, ch 37, §5 ; 2000 Acts, ch 1023, §1, 2 ; 2008 Acts, ch 1032, §201 ; 2008 Acts, ch 1139, §1 ; 2008 Acts, ch 1191, §121, 122 Referred to in §85.65A , 507E.2A , 515A.15