Authority: IC
27-1-34-9
Affected: IC 27-1-34
Sec. 9.
(a) Each MEWA
shall file the following information each year not later than February 15, May
15, August 15, and November 15:
(1) Quarterly
financial statements, including a balance sheet and income statement prepared
in accordance with generally accepted accounting principles signed by an
officer of the MEWA.
(2) A list of
any employers who have obtained coverage with the MEWA during the previous
quarter and the number of their covered employees.
(b) Each MEWA transacting business in this
state shall file an annual report with the commissioner within ninety (90) days
of the end of the MEWA's fiscal year. The report shall be verified by the oath
of the chair of the board of trustees. The report must summarize the business
activities of the trust for the immediately preceding year and must contain all
of the following items:
(1) Management
discussion and analysis.
(2)
Financial statements audited by a certified public accountant.
(3) An actuarial opinion prepared and
certified by a qualified actuary that states the following:
(A) The MEWA is being operated in accordance
with sound actuarial principles.
(B) A description and explanation of
actuarial assumptions and actuarial methods.
(C) The recommended level of specific and
aggregate stop-loss insurance the MEWA should maintain.
(4) A statement detailing any modified terms
of a plan document along with a certification from the trustees that any
changes are in compliance with the minimum requirements of this rule.
(5) If the MEWA has been examined by a
regulatory authority, the report shall:
(A)
identify the entity that conducted the examination; and
(B) include a copy of the examination
report.
(6) The names
and addresses of all participating employers and the total number of covered
individuals.
If the information submitted is acceptable to the department,
the MEWA registration will be renewed. If the information submitted is not
acceptable to the department, the MEWA will receive a written statement of the
department's concerns. The registration will be placed on a probationary status
for six (6) months in order for the MEWA to correct the deficiencies, or the
registration will be terminated.
(c) Each filing made with the department
shall be accompanied by the filing fee required by section 17 of this rule.