Tex.
Labor Code Section 91.041
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 (Self-funded Health Benefit Plan) 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.
Source:
Section 91.041 — Employee Benefit Plans; Required Disclosure; Other Reports, https://statutes.capitol.texas.gov/Docs/LA/htm/LA.91.htm#91.041 (accessed Jun. 5, 2024).
