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Nebraska Revised Statutes Chapter 44. Insurance § 44-7609. Stop-loss insurance policy; requirements

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) A multiple employer welfare arrangement offering a health benefit plan that is not fully insured shall be a named insured under a stop-loss insurance policy that provides coverage in excess of the multiple employer welfare arrangement's retention of one hundred twenty-five percent of the multiple employer welfare arrangement's expected health claims costs as determined on an aggregate basis.

(2) A policy issued to satisfy the requirements of subsection (1) of this section shall:

(a) Be evidenced by a binder or policy by an insurer licensed to transact the business of insurance in this state; and

(b) Contain a provision that the coverage may not be terminated by the insurer unless the multiple employer welfare arrangement and the director receive a written notice of termination from the insurer at least thirty days before the effective date of the termination.

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Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 44. Insurance § 44-7609. Stop-loss insurance policy; requirements - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-44-insurance/ne-rev-st-sect-44-7609/

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