§ 48.21.015. "Group stop loss insurance" defined for the purpose of exemption -- Scope of application
Group stop loss insurance is exempt from all sections of this chapter and chapter 48.32A RCW except for RCW 48.21.010 and this section. For the purpose of this exemption, group stop loss is further defined as follows:
(1) The policy must be issued to and insure the employer, the trustee or other sponsor of the plan, or the plan itself, but not the employees, members, or participants;
(2) Payment by the insurer must be made to the employer, the trustee, or other sponsor of the plan or the plan itself, but not to the employees, members, participants, or health care providers;
(3) The policy must contain a provision that establishes an aggregate attaching point or retention that is at the minimum one hundred twenty percent of the expected claims; and
(4) The policy may provide for an individual attaching point or retention that is not less than five percent of the expected claims or one hundred thousand dollars, whichever is less.
[2000 c 80 § 8; 1992 c 226 § 3.]
Notes:
Application -- 1992 c 226: See note following RCW 48.11.030.
Sections: Previous 48.21.010 48.21.015 48.21.020 48.21.030 48.21.040 48.21.045 48.21.047 48.21.050 48.21.060 48.21.070 48.21.075 48.21.080 48.21.090 48.21.100 48.21.110 Next
Last modified: April 7, 2009