Missouri Revised Statutes Title XXIV. Business and Financial Institutions § 376.1010. Excess stop-loss coverage maintained by plan

A multiple employer self-insured health plan shall maintain aggregate excess stop-loss coverage and individual excess stop-loss coverage provided by an insurer licensed by the state to write accident and health insurance on a direct basis. Aggregate excess stop-loss coverage shall include provisions to cover incurred, unpaid claim liability in the event of plan termination. The excess or stop-loss insurer shall bear the risk of coverage for any member employer of the plan that becomes insolvent with outstanding contributions due. In addition, the plan shall have a participating employer's fund in an amount at least equal to the point at which the excess or stop-loss insurer shall assume one hundred percent of additional liability. A plan shall submit its proposed excess or stop-loss insurance contract to the director at least thirty days prior to the proposed plan's effective date and at least thirty days subsequent to any renewal date. The director shall review the contract to determine whether it meets the standards established by sections 376.1000 to 376.1045 and respond within a thirty-day period. Any excess or stop-loss insurance plan must be noncancelable for a minimum term of two years.