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Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 304.17A-762.Outlet to act as policyholder for member; certificate of coverage for each member; disclosure to members

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) For administrative purposes, an insurance purchasing outlet shall be the policyholder or contract holder of the health benefit plan on behalf of an insurance purchasing outlet member.

(2) The participating insurer shall issue a certificate of coverage to each insurance purchasing outlet member.

(3) The insurance purchasing outlet shall provide the following disclosures to an insurance purchasing outlet member at the time of enrollment:

(a) The insurance purchasing outlet is not an insurer and does not pay benefits or claims. It collects and distributes premiums on behalf of insurance purchasing outlet members;

(b) The insurance purchasing outlet is registered with the Kentucky Department of Insurance to provide specific administrative services and may not assume any risk for claim and benefit payments; and

(c) Other disclosures as the commissioner shall require by administrative regulation.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 304.17A-762.Outlet to act as policyholder for member; certificate of coverage for each member; disclosure to members - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xxv-business-and-financial-institutions/ky-rev-st-sect-304-17a-762/

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