Guaranty Association Sample Clauses
Guaranty Association. This is a fully assessable benefit plan. In the event that the multiple employer self-insured health plan is unable to pay its obligations, participating employers shall be required to contribute on a joint and several basis the funds necessary to meet any unpaid obligations. Certain other major protections offered to Ohio residents under the Ohio Insurance Code and Rules and Regulations, such as conversion rights and certain mandated or required benefits, may not be available through the multiple employer self-insured plan. The applicant requests participation for its employees in the Trust. Billing & Collections Guidelines Although the contract period is one year, payment of Health Care Fees will be required monthly. The following guidelines will be used for the Billing and Collection of the Health Care Fee:
Guaranty Association. This is a fully assessable benefit plan. In the event that the multiple employer self-insured health plan is unable to pay its obligations, Participating Employers shall be required to contribute the funds necessary to meet any unpaid obligations. Any such assessment will be determined using a reasonable proportionate methodology. The Plan does provide certain protections to Plan Sponsors regarding this assessment. Please see the Plan Document and Administrative & Compliance Guide for details. Certain other major protections offered to Ohio residents under the Ohio Insurance Code and Rules and Regulations, such as certain mandated or required benefits, may not be available through the multiple employer self-insured plan.
Guaranty Association. This is a fully assessable benefit plan. In the event that the multiple employer self-insured health plan is unable to pay its obligations, Participating Employers shall be required to contribute the funds necessary to meet any unpaid obligations. Any such assessment will be determined using a reasonable proportionate methodology. The Plan does provide certain protections to Plan Sponsors regarding this assessment. Please see the Plan Document and Administrative & Compliance Guide for details. Certain other major protections offered to Ohio residents under the Ohio Insurance Code and Rules and Regulations, such as certain mandated or required benefits, may not be available through the multiple employer self-insured plan. 2. I acknowledge and agree that the Funding Rate and any other amounts I contribute to the MEWA may be commingled with contributions made by all other Participating Employers in the MEWA and that all amounts once contributed by a Participating Employer, may be used to pay any benefit of any Participant in the MEWA, including benefits attributable to Participants of other Participating Employers. 3. Dental and vision benefits made available through the MEWA are fully insured by Medical Mutual of Ohio (“Medical Mutual”). Life, AD&D and disability benefits made available through the MEWA are insured by Consumers Life Insurance Company (“CLIC”).