Texas § LA.91.041 - EMPLOYEE BENEFIT PLANS

§ LA.91.041. EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS; REQUIRED DISCLOSURE; OTHER REPORTS. (a) A client and license holder are each considered an employer under the laws of this state for purposes of sponsoring retirement and welfare benefit plans for covered employees. (a-1) A license holder may sponsor a single welfare benefit plan under which eligible covered employees of one or more clients may elect to participate. (a-2) A fully insured welfare benefit plan offered to the covered employees of a license holder and provided by an insurance company authorized to provide that insurance in this state or a self-funded health benefit plan sponsored by a license holder as provided by Section 91.0411 shall be treated for purposes of state law as a single employer welfare benefit plan. (b) With respect to any insurance or benefit plan provided by a license holder for the benefit of its assigned employees, a license holder shall disclose the following information to the department, each client, and its covered employees: (1) the type of coverage; (2) the identity of each insurer for each type of coverage; (3) the amount of benefits provided for each type of coverage and to whom or in whose behalf benefits are to be paid; (4) the policy limits on each insurance policy; and (5) whether the coverage is fully insured, partially insured, or fully self-funded. (c) The commission by rule may require a license holder to file other reports that are reasonably necessary for the implementation of this chapter. Added by Acts 1995, 74th Leg., ch. 76, Sec. 9.20(a), eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 1379, Sec. 16, eff. Sept. 1, 1997; Acts 2003, 78th Leg., ch. 816, Sec. 14.009, eff. Sept. 1, 2003. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 117 (S.B. 1286 ), Sec. 15, eff. September 1, 2013.