Kentucky Statutes 304.17A-810 – Conditions for issuance of certificate of filing
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Upon receipt of an application for a certificate of filing, the commissioner shall issue or deny the same. A certificate of filing shall be issued only if the commissioner finds that the applicant has complied with KRS § 304.17A-808, has paid the application fee, and the commissioner is satisfied that the following conditions are met:
(1) The persons responsible for the conduct of the affairs of the self-insured employer- organized association group are competent, trustworthy, and possess good reputation; and
(2) The self-insured employer-organized association group is financially responsible and may reasonably be expected to meet its obligations to participants and prospective participants. In making this determination, the commissioner may consider:
(a) The adequacy of working capital;
(b) Any agreement with an insurer, a government, or any other organization for insuring the payment of health claims or the provision for automatic applicability of an alternative coverage in the event of discontinuance of the self-insurance group; and
(c) Compliance with KRS § 304.17A-812, as a guarantee that the obligations will be duly performed.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1260, effective July 15, 2010. — Created
2003 Ky. Acts ch. 78, sec. 6, effective June 24, 2003.
(1) The persons responsible for the conduct of the affairs of the self-insured employer- organized association group are competent, trustworthy, and possess good reputation; and
Terms Used In Kentucky Statutes 304.17A-810
- Association: means an entity, other than an employer-organized association, that has been organized and is maintained in good faith for purposes other than that of obtaining insurance for its members and that has a constitution and bylaws. See Kentucky Statutes 304.17A-005
- Employer-organized association: means any of the following:
(a) Any entity that was qualified by the commissioner as an eligible association prior to April 10, 1998, and that has actively marketed a health insurance program to its members since September 8, 1996, and which is not insurer- controlled. See Kentucky Statutes 304.17A-005 - Insurer: means any insurance company. See Kentucky Statutes 304.17A-005
(2) The self-insured employer-organized association group is financially responsible and may reasonably be expected to meet its obligations to participants and prospective participants. In making this determination, the commissioner may consider:
(a) The adequacy of working capital;
(b) Any agreement with an insurer, a government, or any other organization for insuring the payment of health claims or the provision for automatic applicability of an alternative coverage in the event of discontinuance of the self-insurance group; and
(c) Compliance with KRS § 304.17A-812, as a guarantee that the obligations will be duly performed.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1260, effective July 15, 2010. — Created
2003 Ky. Acts ch. 78, sec. 6, effective June 24, 2003.