HB 2357 Summary

• Allows ASRS to establish a self-insurance program for group health and accident coverage if determined to be less expensive and as effective as a fully insured plan, subject to board approval.

• Requires ASRS to maintain a separate account for any self-insurance program, with funds used only for providing benefits, administration costs, and premium payments under section 38-783.

• Upon termination of a self-insurance program, remaining account monies must be used for remaining benefits and administration costs, with any surplus returned to the employer after all liabilities are satisfied.

• Expands health insurance premium payment eligibility to include members of the public safety personnel defined contribution retirement plan and the elected officials' defined contribution retirement system.

• Clarifies that the separate account established for health insurance premium benefits can also support the self-insurance program established under section 38-782.