4709 - Plan benefits and disclosure.

§  4709.  Plan benefits and disclosure. (a) The governing board of the  municipal cooperative health benefit plan shall deliver or cause  to  be  delivered  the plan document to all participating municipal corporations  and  to  unions  which   are   the   exclusive   collective   bargaining  representatives  of  employees  covered by the plan and the summary plan  description to every employee  or  retiree  of  participating  municipal  corporations covered by the plan.    (b)  The summary plan description shall be subject to regulation as if  it were a health insurance subscriber  certificate,  provided  that  the  superintendent  may  modify  or suspend any provision of this chapter or  regulation  promulgated  thereunder  pertaining  to  scope  or  type  of  coverage, if the superintendent determines:    (1)  such  provision of this chapter or regulation to be inappropriate  for municipal cooperative health benefit plans;    (2) such modification or suspension  not  to  be  prejudicial  to  the  interests of covered employees, retirees or dependents; and    (3)   such  modification  or  suspension  not  to  be  destructive  of  competition.    (c) Conspicuously printed on the first page of the plan  document  and  summary plan description, in at least ten point bold-face type, shall be  the following statement:    "This  municipal  cooperative  health  benefit  plan is not a licensed  insurer. It operates under  a  more  limited  certificate  of  authority  granted  by  the  superintendent  of  insurance.  Municipal corporations  participating in the  municipal  cooperative  health  benefit  plan  are  subject to contingent assessment liability."