™Your Policy Risk Impact Agent
63 chapters · 804 sections in this title.
Va. Code Ann. § 59.1-589 Definitions
1.2K chars
As used in this chapter, unless the context requires a different meaning: "Benefits consortium" means a trust that is a self-funded MEWA, as defined in § 38.2-3420, and that complies with the conditions set forth in § 59.1-590. "ERISA" means the federal Employee Retirement Income…
Va. Code Ann. § 59.1-590 Conditions for a benefits consortium
4.6K chars
A. This section does not apply to a multiple employer welfare arrangement (MEWA) that offers or provides health benefit plans that are fully insured by an insurer authorized to transact the business of health insurance in the Commonwealth. B. A trust shall constitute a benefits c…
Va. Code Ann. § 59.1-591 Additional requirements
1.4K chars
A. The board of trustees established pursuant to subsection B of § 59.1-590 shall (i) operate any health benefit plans in accordance with the fiduciary duties defined in ERISA and (ii) have the power to make and collect special assessments against members and, if any assessment i…
Va. Code Ann. § 59.1-592 Exemptions; license tax
0.4K chars
Notwithstanding any other provision of law, a benefits consortium or sponsoring association, by virtue of its sponsorship of a benefits consortium or any health benefit plan, shall not be subject to the following: (i) the provisions of Chapter 17 (§ 38.2-1700 et seq.) of Title 38…