Utah Code 49-20-202. Establishment of separate risk pools
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(1) The program shall establish separate risk pools for:
Terms Used In Utah Code 49-20-202
- Institution of higher education: means an institution described in Section 53B-1-102. See Utah Code 49-11-102
- Plan: means the Utah Governors' and Legislators' Retirement Plan created by Chapter 19, Utah Governors' and Legislators' Retirement Act, the New Public Employees' Tier II Defined Contribution Plan created by Chapter 22, Part 4, Tier II Defined Contribution Plan, the New Public Safety and Firefighter Tier II Defined Contribution Plan created by Chapter 23, Part 4, Tier II Defined Contribution Plan, or the defined contribution plans created under Section 49-11-801. See Utah Code 49-11-102
- Program: means the Public Employees' Benefit and Insurance Program. See Utah Code 49-20-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) state employees; and
(1)(b) the Utah Children’s Health Insurance Program.
(2) In accordance with participation standards established by the program, the following entities may elect to participate in the risk pool established under Subsection (1)(a) :
(2)(a) in accordance with Subsection (3)(b) , an institution of higher education designated under Section 53B-1-102 with a total full-time equivalent enrollment of less than 18,000;
(2)(b) an independent entity as defined in Section 63E-1-102 ; and
(2)(c) a comprehensive regional college.
(3)
(3)(a) The program shall create risk pools for other covered employers separate from those created in Subsection (1) as determined by the program.
(3)(b)
(3)(b)(i) If an institution of higher education described in Subsection (2)(a) has 1,000 or more plan enrollees, the program shall establish a rate for the institution of higher education based 100% on experience; and
(3)(b)(ii) if the rate established under Subsection (3)(b)(i) is:
(3)(b)(ii)(A) less than the risk pool rate established for the state employees’ risk pool, the program may include the institution of higher education in the state employees’ risk pool described in Subsection (1)(a) ; or
(3)(b)(ii)(B) more than the risk pool rate established for the state employees’ risk pool, the program shall create a risk pool for the institution of higher education that is separate from the state employees’ risk pool under Subsection (1)(a) .