Person providing specified coverage; exception

1. Any person who provides coverage in this State for the cost of: (a) Medical care; (b) Surgery; (c) Chiropractic; (d) Physical therapy; (e) Speech-language pathology; (f) Audiology; (g) Professional care of mental health; (h) Dental care; (i) Hospital care; (j) Ophthalmic care; (k) Naprapathy; (l) Genetic counseling; or (m) Ambulance services, Ê whether the coverage provides for direct payment, reimbursement or any other method of payment, is subject to regulation by the Division and to the provisions of this Code unless the person shows that while providing such coverage the person is subject to regulation by the Federal Government. 2. A nonprofit corporation that provides prepaid ambulance services is not subject to regulation by the Division or to the provisions of this Code if the corporation presents evidence satisfactory to the Commissioner that the corporation is subject to regulation by a political subdivision of this State pursuant to an exclusive franchise which limits the number of times any such prepaid services may be used to a defined number that are medically necessary.