(a) A self-funded multiple employer welfare arrangement shall annually, before March 2, file with the director on forms prescribed by the director, a full and true statement of its financial condition, transactions, and affairs as of the preceding December 31, including
(1) a statement of financial condition;
(2) a statement of change in financial condition for the year accompanied by an actuarial opinion by a qualified actuary that includes
(A) a certification that the unpaid claim liability of the arrangement meets the requirements of AS 21.18.080 - 21.18.086;
(B) the recommended level of specific and aggregate stop-loss insurance the arrangement should maintain;
(C) a description of the actuarial soundness of the arrangement, including any recommended actions the arrangement should take to improve its actuarial soundness;
(3) a statement of the arrangement's contribution rates for the next year;
(4) if the total payments to the arrangement for participation during the prior year of operations exceeded the sum of $2,000,000, certified financial statements for the prior two years, or for each year and partial year that the self-funded multiple employer welfare arrangement has been in business if less than two years;
(5) a report showing the number of participating employers and number of covered lives at the end of the year and contributions received during the year in the state;
(6) additional information the director determines is necessary in order to determine the financial integrity of the arrangement.
(b) A self-funded multiple employer welfare arrangement shall, within 60 days after the end of each quarter, file with the director, on forms prescribed by the director, a full and true statement of its financial condition, transactions, and affairs as of the preceding quarter, including
(1) a statement of financial condition;
(2) a statement of change in financial condition for the period since the end of the prior year;
(3) a report showing the number of participating employers and number of covered lives at the end of the quarter and contributions received during the quarter in the state;
(4) additional information the director determines is necessary in order to determine the financial integrity of the arrangement.
(c) A self-funded multiple employer welfare arrangement shall file with the director a copy of the arrangement's Internal Revenue Service form 5500, including all attachments to the form.
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