(1) Except as expressly provided in this chapter, the insurance laws of the State of Mississippi, as set forth in Title 83 of the Mississippi Code, shall not apply to any association self-funded health benefit plan that provides group coverage for hospital, surgical or medical expense benefits if the plan can demonstrate to the satisfaction of the Commissioner of Insurance that the plan is subject to the jurisdiction of another state insurance department or the federal government by providing the commissioner with the appropriate certificate, license or written authorization issued by the other governmental agency that permits or otherwise qualifies the plan to provide group coverage for hospital, surgical or medical expense benefits.
(2) In addition to any other requirements as set forth in this chapter, to be eligible to provide association group hospital, surgical or medical expense benefit coverage in this state, and to qualify for the exemption from Title 83 of the Mississippi Code as set forth in this section, an association self-funded health benefit plan shall demonstrate to the satisfaction of the commissioner the following:(a) That the plan was established in its domiciliary jurisdiction for the members of a professional association or trade association that has been organized and maintained in good faith for a continuous period of three (3) years for purposes other than that of obtaining or providing insurance.(b) That the plan will only provide group coverage in this state through an association whose members are in the same trade or profession and that has been organized and maintained in this state in good faith for a continuous period of three (3) years for purposes other than that of obtaining or providing insurance.(c) That the plan is in compliance with applicable laws in its domiciliary jurisdiction and any applicable requirements under the Employee Retirement Income Security Act of 1974, addressing coverage, financial and reserve requirements.(d) That the rates are not inadequate, excessive, or unfairly discriminatory and are appropriate for the classes of risks for which they have been computed.(e) That the plan is being operated in accordance with sound actuarial principles and is designed to provide sufficient revenues to pay current and future liabilities.(f) That the plan is neither offered nor advertised to the public generally.(g) That the plan is required under the laws of its domiciliary jurisdiction to maintain excess insurance with a retention level determined in accordance with sound actuarial principles.(h) That the plan is required under the laws of its domiciliary jurisdiction to establish and maintain appropriate loss reserves determined in accordance with sound actuarial principles.(i) That the plan is a nonprofit organization.(i) Upon demonstrating to the satisfaction of the commissioner that the Association Self-Funded Health Benefit Plan is in compliance with the provisions of this chapter, the plan shall be exempt from all other provisions of Title 83 of the Mississippi Code and shall not be regulated by the Mississippi Insurance Department.(ii) An association self-funded health benefit plan that receives an initial exemption under this section from Title 83 of the Mississippi Code shall certify to the commissioner each year thereafter, on or before February 15th, that the plan continues to meet the eligibility requirements contained in this chapter. Failure to meet and maintain the eligibility requirements set forth in this chapter shall be grounds for denial, suspension or revocation of the plan’s exemption from Title 83 of the Mississippi Code and its eligibility to provide group health benefit coverage in this state.
(a) That the plan was established in its domiciliary jurisdiction for the members of a professional association or trade association that has been organized and maintained in good faith for a continuous period of three (3) years for purposes other than that of obtaining or providing insurance.
(b) That the plan will only provide group coverage in this state through an association whose members are in the same trade or profession and that has been organized and maintained in this state in good faith for a continuous period of three (3) years for purposes other than that of obtaining or providing insurance.
(c) That the plan is in compliance with applicable laws in its domiciliary jurisdiction and any applicable requirements under the Employee Retirement Income Security Act of 1974, addressing coverage, financial and reserve requirements.
(d) That the rates are not inadequate, excessive, or unfairly discriminatory and are appropriate for the classes of risks for which they have been computed.
(e) That the plan is being operated in accordance with sound actuarial principles and is designed to provide sufficient revenues to pay current and future liabilities.
(f) That the plan is neither offered nor advertised to the public generally.
(g) That the plan is required under the laws of its domiciliary jurisdiction to maintain excess insurance with a retention level determined in accordance with sound actuarial principles.
(h) That the plan is required under the laws of its domiciliary jurisdiction to establish and maintain appropriate loss reserves determined in accordance with sound actuarial principles.
(i) That the plan is a nonprofit organization.(i) Upon demonstrating to the satisfaction of the commissioner that the Association Self-Funded Health Benefit Plan is in compliance with the provisions of this chapter, the plan shall be exempt from all other provisions of Title 83 of the Mississippi Code and shall not be regulated by the Mississippi Insurance Department.(ii) An association self-funded health benefit plan that receives an initial exemption under this section from Title 83 of the Mississippi Code shall certify to the commissioner each year thereafter, on or before February 15th, that the plan continues to meet the eligibility requirements contained in this chapter. Failure to meet and maintain the eligibility requirements set forth in this chapter shall be grounds for denial, suspension or revocation of the plan’s exemption from Title 83 of the Mississippi Code and its eligibility to provide group health benefit coverage in this state.
(i) Upon demonstrating to the satisfaction of the commissioner that the Association Self-Funded Health Benefit Plan is in compliance with the provisions of this chapter, the plan shall be exempt from all other provisions of Title 83 of the Mississippi Code and shall not be regulated by the Mississippi Insurance Department.
(ii) An association self-funded health benefit plan that receives an initial exemption under this section from Title 83 of the Mississippi Code shall certify to the commissioner each year thereafter, on or before February 15th, that the plan continues to meet the eligibility requirements contained in this chapter. Failure to meet and maintain the eligibility requirements set forth in this chapter shall be grounds for denial, suspension or revocation of the plan’s exemption from Title 83 of the Mississippi Code and its eligibility to provide group health benefit coverage in this state.