Revision: Nov. 9, 2021, 9:26 a.m.
Commerce
November 9, 2021
2021-2240s
05/04
Amendment to SB 160-FN
Amend the bill by replacing section 3 with the following:
3 Multiple-Employer Welfare Arrangements. The introductory paragraph of RSA 415-E:3 and RSA 415-E:3, I are repealed and reenacted to read as follows:
415-E:3 General Eligibility; Pathway I and Pathway II. To meet the requirements for approval and to maintain a multiple employer welfare arrangement, an association shall be approved either as a bona fide pathway I or pathway II association as follows:
I. An association seeking approval as a bona fide pathway I association shall:
(a) Meet the definition in RSA 415-E:1, II of a bona fide pathway I association.
(b) Be nonprofit.
(c) Be established by a trade association, industry association, political subdivision of the state, religious organization, or professional association of employers or professionals which has a constitution or bylaws and which has been organized and maintained in good faith for a continuous period of one year for purposes other than that of obtaining or providing insurance.
(d) Be operated pursuant to a trust agreement by a board of trustees which shall have complete fiscal control over the arrangement and which shall be responsible for all operations of the arrangement. The trustees selected shall be owners, partners, officers, directors, or employees of one or more employers in the arrangement. A trustee may not be an owner, officer, or employee of the administrator or service company of the arrangement. The trustees shall have the authority to approve applications of association members for participation in the arrangement and to contract with an authorized administrator or service company to administer the day-to-day affairs of the arrangement.
(e) Be neither offered nor advertised to the public generally.
(f) Be operated in accordance with sound actuarial principles.
Amend the bill by replacing section 11 with the following:
11 Effective Date. This act shall take effect upon its passage.