Wis. Admin. Code Department of Employee Trust Funds ETF 10.20 - Approval of group insurance plans for state employees

(1) In addition to group insurance plans specifically provided in ch. 40, Stats., and pursuant to s. 20.921(1) (a) 3, Stats., the group insurance board shall approve or disapprove group insurance plans for which payment of premiums is made through payroll deductions.

(a) The group insurance board shall determine, after notice and hearing, whether the group insurance plan fulfills an important coverage need through consideration of, but not limited to, the following factors:

1. Number of employees affected.

2. Amount and variation in premiums.

3. Adequacy of other approved coverage providing the same or similar protection.

4. Duration of contract.

5. History, performance and acceptance of the plan by the employees.

6. New or additional coverage provided.

(b) The group insurance board shall determine whether the plan is adequately supervised through consideration of, but not limited to, the following factors:

1. Continuing representation of employee participants with professional insurance guidance.

2. Maintenance of adequate statistical records relating to retentions, experience, premiums, participants and other data necessary for actuarial computations.

3. Procedures for negotiating coverage.

(2) Notwithstanding approval granted to any plan under sub. (1), the group insurance board may subsequently withdraw its approval, after notice and hearing, upon finding that the plan does not meet the criteria established by sub. (1) (a). Withdrawal of approval shall be effective, at the discretion of the group insurance board, on the first day of the month subsequent to issuance of a finding that the plan does not meet the criteria pursuant to sub. (1) (a) or on the anniversary date of the contract under which the plan is provided.

Notes

Wis. Admin. Code Department of Employee Trust Funds ETF 10.20

Renum. from ch. Grp 26 and am. Register, December, 1983, No. 336, eff. 1-1-84.