513C.11 Self-funded employer-sponsored health benefit plan participation in reinsurance association. 1. A self-funded employer-sponsored health benefit plan qualified under the federal Employee Retirement Income Security Act of 1974 may voluntarily elect to participate inthe Iowa individual health benefit reinsurance association established in section 513C.10 inaccordance with the plan of operation and subject to such terms and conditions adoptedby the board of the association established in section 514E.2 to provide portability andcontinuity to its covered employees and their covered spouses and dependents subject to thesame terms and conditions as a participating insurer. 2. If the federal Employee Retirement Income Security Act of 1974 is amended such that the state may require the participation of a self-funded employer, the individual reinsurancerequirements shall apply equally to such employers. 3. When and if the federal government imposes conditions of portability and continuity on self-funded employers qualified under the federal Employee Retirement Income SecurityAct of 1974 that the commissioner deems are substantially similar to those required of Iowainsurers, coverage y on self-funded employers qualified under the federal Employee Retirement Income SecurityAct of 1974 that the commissioner deems are substantially similar to those required of Iowainsurers, coverage under such qualified plans shall be deemed qualified prior coverage forpurposes of chapter 513B and this chapter. 95 Acts, ch 5, §13; 2002 Acts, ch 1119, §67 Sat Dec 23 00:44:08 2023 Iowa Code 2024, Section 513C.11 (15, 0)
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