Text: HF00165 Text: HF00167 Text: HF00100 - HF00199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 507A.4, subsection 10, Code 1997, is 1 2 amended to read as follows: 1 3 10. Transactions involving a multiple employer welfare 1 4 arrangement, as defined in section 3 of the federal Employee 1 5 Retirement Income Security Act of 1974, 29 U.S.C. } 1002, 1 6 paragraph 40, if the multiple employer welfare arrangement 1 7 meets all of the following conditions: 1 8 a. The arrangement is administered by an authorized 1 9 insurer or an authorized third-party administrator. 1 10 b. The arrangement has been in existence and provided 1 11 health insurance for at leastfifteenten years prior to July 1 12 1,19941997. 1 13 c. The arrangement was established by a trade, industry, 1 14 or professional association of employers, or by a nonprofit 1 15 corporation organized primarily to serve cooperatives, that 1 16 has a constitution or bylaws, and has been organized and 1 17 maintained in good faith for at leasttwentyten continuous 1 18 years prior to July 1,19941997. 1 19 Sec. 2. 1994 Iowa Acts, chapter 1038, section 3, as 1 20 amended by 1995 Iowa Acts, chapter 33, section 1, and 1996 1 21 Iowa Acts, chapter 1024, section 1, is repealed. 1 22 Sec. 3. EFFECTIVE DATE. This Act, being deemed of 1 23 immediate importance, takes effect upon enactment. 1 24 EXPLANATION 1 25 This bill amends the requirements a multiple employer 1 26 welfare arrangement (MEWA) must meet to be exempt from the 1 27 provisions of chapter 507A, relating to unauthorized insurers, 1 28 and repeals the section repealing 1994 Iowa Acts, chapter 1 29 1038, which exempts such arrangements from regulation by the 1 30 insurance division of the department of commerce. 1 31 The bill provides that an MEWA must have been in existence 1 32 for at least 10 years prior to July 1, 1997, to be exempt from 1 33 chapter 507A. Currently, an MEWA must have been in existence 1 34 for at least 15 years prior to July 1, 1994. The bill also 1 35 provides that such arrangement may have been established by a 2 1 nonprofit corporation organized primarily to serve 2 2 cooperatives which has been organized for at least 10 2 3 continuous years. Currently, MEWAs must have been established 2 4 by a trade, industry, or professional association of employers 2 5 which has been organized for at least 20 continuous years. 2 6 The bill is made effective upon enactment. 2 7 LSB 1907HH 77 2 8 mj/jj/8
Text: HF00165 Text: HF00167 Text: HF00100 - HF00199 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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