(1) Application for registration of a joint public agency self-funded plan for public agencies shall be made to the director, on forms furnished and designed by him. The application shall be signed and verified by at least two (2) of the board members.
(2)  The application shall be accompanied by:
(a)  A copy of the joint powers agreement under which the joint public agency self-funded plan will exist and operate;
(b)  A copy of the proposed written statement of benefits referred to in section 41-4104(2), Idaho Code;
(c)  A financial statement of the trust fund, if already in existence and operating on July 1, 2006. The statement shall be certified by an independent certified public accountant according to generally accepted accounting principles;
(d)  If not already in existence, a written statement of reasonably projected income and disbursements of the trust fund for the twelve (12) month period commencing with date of application and showing also the amount projected as of the end of such period for claims incurred and not paid and incurred and not reported as certified by an actuary having experience in establishing rates for a self-funded plan and the health services being provided, and who is also a fellow of the society of actuaries, a member of the American academy of actuaries, or an enrolled actuary under the employment retirement income security act of 1974;
(e)  If not already in existence, a copy of a business plan;
(f)  A copy of an actuarial study determining adequate rates for the plan. The rates shall not be less than the sum of projected incurred claims for the year plus costs of operation plus a reasonable portion of any prior year deficiency less any excess surplus; and
(g)  Such other relevant documentation and information as the director may reasonably require considering that these entities are public agency plans and not private insurance companies.
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Terms Used In Idaho Code 41-4105

  • Director: means the director of the department of insurance of this state. See Idaho Code 41-4102
  • Joint powers agreement: means an agreement entered into between public agencies pursuant to chapter 23, title 67, Idaho Code. See Idaho Code 41-4102
  • Month: means a calendar month, unless otherwise expressed. See Idaho Code 73-114
  • plan: means any public agency plan established by a joint powers agreement and under which payment for any disability benefits not otherwise provided for under title 72, Idaho Code (worker’s compensation and related laws — industrial commission), medical, surgical, hospital, and other services for prevention, diagnosis, or treatment of any disease, injury, or bodily condition of an employee is, or is to be, regularly provided for or promised from funds created or maintained in whole or in part by contributions or payments thereto by a public agency employer, or by a public agency employer and the employees of the public agency, and not otherwise covered by insurance or contract with a health care service corporation, health maintenance organization, or similar other third party prepayment plan. See Idaho Code 41-4102
  • Public agency: means any city, county or political subdivision of this state, including, but not limited to: counties; school districts; highway districts; port authorities; instrumentalities of counties, county hospitals, cities or any political subdivision created under the laws of the state of Idaho; and the state of Idaho and any agency of the state government. See Idaho Code 41-4102
  • Surplus: means the excess of the assets of a self-funded plan minus the liabilities of the plan, provided the liabilities of a self-funded plan shall include the claims liability of the plan. See Idaho Code 41-4102
  • Trust fund: means a fund established under a joint public agency self-funded plan for receipt of contributions of employers and employees and payment of or with respect to health care service costs of beneficiaries. See Idaho Code 41-4102
(3)  At the time of filing the application the applicant shall pay to the director a nonrefundable filing fee as provided for by rule.
(4)  The director shall transmit and account for all fees received by him hereunder as provided in section 41-406, Idaho Code.