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2020 New Hampshire Revised Statutes
Title XXXVII - Insurance
Title 415-E - Multiple-Employer Welfare Arrangements
Section 415-E:5 - Fund Balance.
Universal Citation: NH Rev Stat § 415-E:5 (2020)
[RSA 415-E:5 effective 60 days after certification by the insurance commissioner that 29 C.F.R. section 2510.3-5(b) is valid and that issues raised in State of New York v. United States Department of Labor have been resolved, but not later than December 1, 2021; see also RSA 415-E:5 set out above.]
415-E:5 Self-Funded Arrangements: Termination Liability Fund. –
I. Each self-funded multiple-employer welfare arrangement shall maintain a termination liability fund wherein the fund balance of the multiple-employer welfare arrangement shall at no time, for a consecutive 90-day period, be less than $750,000 or 33 percent of the aggregate premiums billed during the 12 prior months, whichever is greater. For purposes of this paragraph, that surety amount, if any, deposited with the commissioner pursuant to RSA 415-E:7, I, may be credited as a fund balance asset toward the termination liability fund amount.
II. Each self-funded multiple-employer welfare arrangement shall file with the commissioner, not later than 4 months following the end of each fiscal year, a report on the financial status of the termination liability fund, which report is filed under oath by a member of its board of trustees, or by an administrative executive duly appointed by the board, and further certified to by an independent certified public accountant.
Source. 1991, 246:1, eff. Jan. 1, 1992. 2019, 346:404.
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