41-4003. Registration required -- Exemptions -- Not subject to insurance code. (1) No person shall offer or operate a self-funded plan in this state except while registered with the director as hereinafter provided.
(2) No registration shall be required of:
(a) Any self-funded plan established for the sole purpose of funding the dollar amount of a deductible clause contained in the provisions of an insurance contract issued by an insurer duly authorized to transact disability insurance in this state if the deductible does not exceed an amount applicable to each beneficiary of two thousand dollars ($2,000) per annum and the total of all obligations to all beneficiaries insured under the plan arising out of the application of such a deductible does not exceed the aggregate amount of two hundred thousand dollars ($200,000) in any one (1) year.
(b) Any plan established and maintained for the purpose of complying with any worker’s compensation law or unemployment compensation disability insurance law.
(c) Any plan administered by or for the federal government or agency thereof or any county of this state.
(d) Any plan which is primarily for the purpose of providing first aid care and treatment, at a dispensary of an employer, for injury or sickness of employees while engaged in their employment.
(3) Plans while so registered shall not be deemed to be engaged in the business of insurance and shall not be subject to provisions of the Idaho insurance code except as expressly provided in this chapter. A plan that operates in this state without registering under this chapter shall be deemed to be engaged in the business of insurance and any person offering or operating an unregistered plan shall be deemed to be transacting insurance without proper licensing.
(4) Any self-funded plan providing benefits to more than one (1) employer shall provide to each employer participant and to each prospective employer participant written notice that the plan is not insurance and does not participate in the state guaranty association. The notice shall also be included as part of all marketing materials used by or on behalf of the plan.
41-4003. Registration required -- Exemptions -- Not subject to insurance code. (1) No person shall offer or operate a self-funded plan in this state except while registered with the director as hereinafter provided.
(2) No registration shall be required of:
(a) Any self-funded plan established for the sole purpose of funding the dollar amount of a deductible clause contained in the provisions of an insurance contract issued by an insurer duly authorized to transact disability insurance in this state if the deductible does not exceed an amount applicable to each beneficiary of two thousand dollars ($2,000) per annum and the total of all obligations to all beneficiaries insured under the plan arising out of the application of such a deductible does not exceed the aggregate amount of two hundred thousand dollars ($200,000) in any one (1) year.
(b) Any plan established and maintained for the purpose of complying with any worker’s compensation law or unemployment compensation disability insurance law.
(c) Any plan administered by or for the federal government or agency thereof or any county of this state.
(d) Any plan which is primarily for the purpose of providing first aid care and treatment, at a dispensary of an employer, for injury or sickness of employees while engaged in their employment.
(3) Plans while so registered shall not be deemed to be engaged in the business of insurance and shall not be subject to provisions of the Idaho insurance code except as expressly provided in this chapter. A plan that operates in this state without registering under this chapter shall be deemed to be engaged in the business of insurance and any person offering or operating an unregistered plan shall be deemed to be transacting insurance without proper licensing.
(4) Any self-funded plan providing benefits to more than one (1) employer shall provide to each employer participant and to each prospective employer participant written notice that the plan is not insurance and does not participate in the state guaranty association. The notice shall also be included as part of all marketing materials used by or on behalf of the plan.
41-4003. Registration required -- Exemptions -- Not subject to insurance code. (1) No person shall offer or operate a self-funded plan in this state except while registered with the director as hereinafter provided.
(2) No registration shall be required of:
(a) Any self-funded plan established for the sole purpose of funding the dollar amount of a deductible clause contained in the provisions of an insurance contract issued by an insurer duly authorized to transact disability insurance in this state if the deductible does not exceed an amount applicable to each beneficiary of two thousand dollars ($2,000) per annum and the total of all obligations to all beneficiaries insured under the plan arising out of the application of such a deductible does not exceed the aggregate amount of two hundred thousand dollars ($200,000) in any one (1) year.
(b) Any plan established and maintained for the purpose of complying with any worker’s compensation law or unemployment compensation disability insurance law.
(c) Any plan administered by or for the federal government or agency thereof or any county of this state.
(d) Any plan which is primarily for the purpose of providing first aid care and treatment, at a dispensary of an employer, for injury or sickness of employees while engaged in their employment.
(3) Plans while so registered shall not be deemed to be engaged in the business of insurance and shall not be subject to provisions of the Idaho insurance code except as expressly provided in this chapter. A plan that operates in this state without registering under this chapter shall be deemed to be engaged in the business of insurance and any person offering or operating an unregistered plan shall be deemed to be transacting insurance without proper licensing.
(4) Any self-funded plan providing benefits to more than one (1) employer shall provide to each employer participant and to each prospective employer participant written notice that the plan is not insurance and does not participate in the state guaranty association. The notice shall also be included as part of all marketing materials used by or on behalf of the plan.
