(1) A health benefit plan is not insurance and except as provided in this section is not subject to any law regarding insurance if: (a) The health benefit plan provides health benefits under a self-funded arrangement administered by an entity licensed as a third-party administrator under the Third-Party Administrator Act; and (b) The health benefit plan is sponsored by a nonprofit agricultural organization or an affiliate of a nonprofit agricultural organization that: (i) Is domiciled in this state; (ii) Was created primarily to promote programs for the development of rural communities and the economic stability and sustainability of farmers in this state pursuant to its articles of incorporation; (iii) Provides membership opportunities for eligible persons in each county of this state; (iv) Collects annual dues from its members; (v) Holds regular meetings to further the purposes of its members; (vi) Provides its members with representation on its governing board and any committees of such board; and (vii) Contracts with the third-party administrator described in subdivision (a) of this subsection for administration of the health benefit plan. (2) Before providing health benefits under a self-funded plan, an organization shall file a certification with the Department of Insurance verifying that the organization meets the requirements of this section. Such certification shall be filed at a time and in a manner prescribed by the Department of Insurance. (3) The risk assumed by a health benefit plan under health care benefit coverage under this section may be reinsured by a company authorized to do business in this state. (4) Any health benefit plan application for coverage and any contract provided to a member shall prominently state the following: (a) The health benefit plan is not insurance; (b) The health benefit plan is not provided by an insurance company; (c) The health benefit plan is not subject to the laws and rules governing insurance; and (d) The health benefit plan is not subject to the jurisdiction of the Department of Insurance.
‹ Prev All Nebraska sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.