{"data":{"id":"us-ak/as-21.85.500","jurisdiction":"us-ak","citation":"AS 21.85.500","heading":"Definitions.","body":"In this chapter,\n(1) “allowable benefit” means a benefit for medical care;\n(2) “bona fide association” has the meaning given in AS 21.54.500;\n(3) “claims liability” means the total of all incurred and unpaid claims for allowable benefits under a self-funded multiple employer welfare arrangement that are not reimbursed or reimbursable by stop-loss insurance, subrogation, or other sources;\n(4) “health benefit plan” has the meaning given in AS 21.54.500;\n(5) “multiple employer welfare arrangement” has the meaning given in 29 U.S.C. 1002;\n(6) “qualified actuary” means an individual who\n(A) is a member in good standing of the American Academy of Actuaries;\n(B) meets the qualification standards of the American Academy of Actuaries to sign statements of actuarial opinion;\n(C) is familiar with the valuation requirements under AS 21.18; and\n(D) has not been disqualified by the director, after notice and hearing under AS 21.06.180, for\n(i) a violation of this title or other law pertinent to the duties or responsibilities of a qualified actuary;\n(ii) conviction of a fraudulent act;\n(iii) conduct considered by the director to reflect incompetence or untrustworthiness;\n(iv) resignation or removal as an actuary with a company or a consulting firm within the past five years due to acts or omissions indicated in a report of examination or due to failure to adhere to generally accepted actuarial standards; or\n(v) failure to notify the director of an action taken against the actuary by an insurance regulator of another state for grounds that are substantially the same as a provision under this paragraph;\n(7) “reserves” means the excess of assets of a self-funded multiple employer welfare arrangement minus the liabilities of the arrangement;\n(8) “self-funded multiple employer welfare arrangement” or “arrangement” means a multiple employer welfare arrangement that does not provide for payment of benefits under the arrangement solely through a policy of insurance issued by one or more authorized insurance companies.","path":["Title 21. Insurance.","Chapter 85. Regulation of Multiple Employer Welfare Arrangements."],"source_url":"https://www.akleg.gov/basis/statutes.asp#21.85.500","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:17:40Z","sha256":"0b90eef14c3887bb0a3e71baf794751a3be7ba8c6493a0ea7825d1ceacbb8960","source_id":"us-ak","stale":false,"prev":"us-ak/as-21.85.100","next":"us-ak/as-21.86.010"},"notice":"GroundRules: Original legal text. Not legal advice."}