§ 4709 — Plan benefits and disclosure

§ 4709. Plan benefits and disclosure. (a) The governing board of the\nmunicipal cooperative health benefit plan shall deliver or cause to be\ndelivered the plan document to all participating municipal corporations\nand to unions which are the exclusive collective bargaining\nrepresentatives of employees covered by the plan and the summary plan\ndescription to every employee or retiree of participating municipal\ncorporations covered by the plan.\n (b) The summary plan description shall be subject to regulation as if\nit were a health insurance subscriber certificate, provided that the\nsuperintendent may modify or suspend any provision of this chapter or\nregulation promulgated thereunder pertaining to scope or type of\ncoverage, if the superintendent determines:\n (1) such provision of this chapter or regulation to be inappropriate\nfor municipal cooperative health benefit plans;\n (2) such modification or suspension not to be prejudicial to the\ninterests of covered employees, retirees or dependents; and\n (3) such modification or suspension not to be destructive of\ncompetition.\n (c) Conspicuously printed on the first page of the plan document and\nsummary plan description, in at least ten point bold-face type, shall be\nthe following statement:\n "This municipal cooperative health benefit plan is not a licensed\ninsurer. It operates under a more limited certificate of authority\ngranted by the superintendent of financial services. Municipal\ncorporations participating in the municipal cooperative health benefit\nplan are subject to contingent assessment liability."\n