In this chapter,

(1) “allowable benefit” means a benefit for medical care;
lawyer at desk

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Alaska Statutes 21.85.500

  • action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(2) “bona fide association” has the meaning given in Alaska Stat. § 21.54.500;
(3) “claims liability” means the total of all incurred and unpaid claims for allowable benefits under a self-funded multiple employer welfare arrangement that are not reimbursed or reimbursable by stop-loss insurance, subrogation, or other sources;
(4) “health benefit plan” has the meaning given in Alaska Stat. § 21.54.500;
(5) “multiple employer welfare arrangement” has the meaning given in 29 U.S.C. § 1002;
(6) “qualified actuary” means an individual who

(A) is a member in good standing of the American Academy of Actuaries;
(B) meets the qualification standards of the American Academy of Actuaries to sign statements of actuarial opinion;
(C) is familiar with the valuation requirements under Alaska Stat. Chapter 21.18; and
(D) has not been disqualified by the director, after notice and hearing under Alaska Stat. § 21.06.180, for

(i) a violation of this title or other law pertinent to the duties or responsibilities of a qualified actuary;
(ii) conviction of a fraudulent act;
(iii) conduct considered by the director to reflect incompetence or untrustworthiness;
(iv) resignation or removal as an actuary with a company or a consulting firm within the past five years due to acts or omissions indicated in a report of examination or due to failure to adhere to generally accepted actuarial standards; or
(v) failure to notify the director of an action taken against the actuary by an insurance regulator of another state for grounds that are substantially the same as a provision under this paragraph;
(7) “reserves” means the excess of assets of a self-funded multiple employer welfare arrangement minus the liabilities of the arrangement;
(8) “self-funded multiple employer welfare arrangement” or “arrangement” means a multiple employer welfare arrangement that does not provide for payment of benefits under the arrangement solely through a policy of insurance issued by one or more authorized insurance companies.
  Previous section
Next section  
 Chapter 85 Contents