EMPLOYEE BENEFIT PLANS; REQUIRED DISCLOSURE; OTHER REPORTS

(a) A client and license holder are each considered an employer under the laws of this state for purposes of sponsoring retirement and welfare benefit plans for covered employees. (a-1) A license holder may sponsor a single welfare benefit plan under which eligible covered employees of one or more clients may elect to participate. (a-2) A fully insured welfare benefit plan offered to the covered employees of a license holder and provided by an insurance company authorized to provide that insurance in this state or a self-funded health benefit plan sponsored by a license holder as provided by Section 91.0411 shall be treated for purposes of state law as a single employer welfare benefit plan. (b) With respect to any insurance or benefit plan provided by a license holder for the benefit of its assigned employees, a license holder shall disclose the following information to the department, each client, and its covered employees: (1) the type of coverage; (2) the identity of each insurer for each type of coverage; (3) the amount of benefits provided for each type of coverage and to whom or in whose behalf benefits are to be paid; (4) the policy limits on each insurance policy; and (5) whether the coverage is fully insured, partially insured, or fully self-funded. (c) The commission by rule may require a license holder to file other reports that are reasonably necessary for the implementation of this chapter.