In this subchapter, “alternative health benefit coverage” means health benefit coverage:
(1) provided by a subsidiary of the company that is not authorized to engage in the business of insurance in this state;
(2) offered only to:
(A) individuals;
(B) small businesses with not more than 250 full-time equivalent employees; or
(C) the company’s policyholders or their employees; and
(3) that is not:
(A) provided through an insurance policy or other product the offering or issuance of which constitutes the business of insurance in this state; or
(B) benefit coverage subject to the laws governing workers’ compensation in this state.