Section 1003-A. Designated Insurers.--(a) The following insurers shall comply with sections 1004-A and 1005-A in order to implement the alternative mechanism requirements of the Federal act:
(1) Hospital plan corporations.
(2) Professional health services plan corporations.
(b) If a designated insurer owns a hospital plan corporation or a professional health services plan corporation which provides services within substantially the same service area as the parent organization, the subsidiary hospital plan corporation and professional health services plan corporation are not required to offer coverage to eligible individuals if the parent organization offers coverage to eligible individuals under sections 1004-A and 1005-A.
(1003-A added Nov. 4, 1997, P.L.492, No.51)