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2012 SESSION
SB 591 MEWA; increases number of residents employed at bank who may receive accident & sickness benefits.
Introduced by: Phillip P. Puckett | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED SENATE:
Health insurance; multiple employer welfare arrangements. Increases, from 50 to 500, the maximum number of Virginia residents employed at a bank that is a member of a multiple employer welfare arrangement (MEWA) who may receive accident and sickness benefits under the MEWA without disqualifying the MEWA from its exemption from provisions of the Commonwealth's insurance laws. The exemption applies if the MEWA is subject to solvency examination authority and reserve adequacy requirements determined by sound actuarial principles by such domiciliary contiguous state.
SUMMARY AS INTRODUCED:
Health insurance; multiple employer welfare arrangements. Increases, from 50 to 250, the maximum number of Virginia residents employed at a bank that is a member of a multiple employer welfare arrangement (MEWA) who may receive accident and sickness benefits under the MEWA without disqualifying the MEWA from its exemption from provisions of the Commonwealth's insurance laws.