Minn. R. agency 120, ch. 2740, ACTUARIAL EQUIVALENCE OF QUALIFIED PLANS AND QUALIFIED MEDICARE SUPPLEMENT PLANS, pt. 2740.9934

Current through Register Vol. 49, No. 28, January 6, 2025

Part 2740.9934 - USE OF TABLES

Subpart 1.Certification of plans.

Any insurer, self-insurer, or policyholder may use the test for actuarial equivalence as a guide. To obtain certification of any plan of health benefits as qualified, it must be submitted to the commissioner.

Subp. 2.Filing with commissioner.

The following must be sent to the commissioner:

A. The plan document if an uninsured plan or the policy form if an insured plan.

B. A statement of the grand total from part 2740.9924.

C. A certification that the plan is qualified as either a plan 1, 2, or 3, or is nonqualified, by using the test of actuarial equivalence in part 2740.9949. The certification must be by a principal or officer, or by a member of the Academy of Actuaries.

D. If the plan is not a qualified plan by using the test of actuarial equivalence, and the insurer or self-insurer desires to have it certified as a qualified plan, a statement of the specific reasons for the desired qualification.

Subp. 3.Certification by commissioner.

If the documents required by subpart 2 are filed and the plan is a qualified plan by using the test of actuarial equivalence in part 2740.9949, then the plan will be deemed certified as filed. If the documents required by subpart 2 are filed and the plan is not a qualified plan by using the test of actuarial equivalence in part 2740.9949, then the plan will be qualified upon certification by the commissioner.

Minn. R. agency 120, ch. 2740, ACTUARIAL EQUIVALENCE OF QUALIFIED PLANS AND QUALIFIED MEDICARE SUPPLEMENT PLANS, pt. 2740.9934

10 SR 474

Statutory Authority: MS s 62E.09