Iowa Admin. Code r. 11-46.3

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 11-46.3 - Insurance company qualifications

To qualify to receive insurance premiums from state employees through payroll deductions, an insurance company must be authorized to do business in Iowa and must meet the requirements of this rule.

(1)Minimum number of participating employees.

a. The insurance company must have and maintain the participation of 500 or more state employees.

b. Notwithstanding subrule 46.3(1), paragraph"a," during the first 12 months of this program an insurance company is considered qualified if it received insurance premium payments through payroll deductions under repealed Iowa Code section 70A. 17. All such companies may continue in the program during the first 12 months following the reinstitution of this payroll deduction program. By the end of the twelfth month after the reinstitution of this program, all companies must have and maintain a total of at least 500 participating employees in order to continue participation. Following the end of the twelfth month of participation of an insurance company under this subrule, company participation may be terminated pursuant to rule 11-46.13 (70A).

c. For purposes of certifying the required 500 state employees, an insurance company shall not count state employees enrolled in insurance programs authorized by existing Iowa Code sections, by collective bargaining contracts, or by the appropriate governing authority.

(2)Qualification process.

a.Written agreement. The company providing the insurance must enter into a written agreement with the state delineating each party's rights and responsibilities. At the same time, the company must provide a template of the company's enrollment form.

b.Forms. The insurance premium payroll deductions for qualified insurance companies must be authorized on forms approved by the program administrator

c.Payroll deduction requests. The state employee must make request for the payroll deduction for insurance premiums in writing to the appointing authority.

d.Participating employee list. A company seeking to be qualified must supply the program administrator with a certified list of all state employees for whom insurance premium payroll deductions are sought. The list shall contain, according to affected payroll systems, the names, in alphabetical order, and the social security numbers of state employees for whom insurance premium payroll deductions are being requested and the name of the type of insurance being requested.

Iowa Admin. Code r. 11-46.3