Montana Code 33-35-209. Minimum reserve requirements
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33-35-209. Minimum reserve requirements. Self-funded multiple employer welfare arrangements shall establish by the end of the first year of operations of the arrangement and shall maintain as of the end of each year of operations reserves equal to at least 30% of the unpaid claims liability of the arrangement. The commissioner may adopt rules regarding the supervision, rehabilitation, and liquidation of self-funded multiple employer welfare arrangements that fail to maintain the level of reserves required by this section.
Terms Used In Montana Code 33-35-209
- arrangement: means a multiple employer welfare arrangement that does not provide for payment of benefits under the arrangement solely through a policy or policies of insurance issued by one or more insurance companies with a certificate of authority under this title. See Montana Code 33-35-103
- 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 excess of loss insurance, subrogation, or other sources. See Montana Code 33-35-103
- Reserves: means the excess of the assets of a self-funded multiple employer welfare arrangement minus the liabilities of the arrangement. See Montana Code 33-35-103