Reporting

1. Financial statements. A self-insurance health plan must prepare annual financial statements containing a balance sheet; a statement of revenues, expenses, and surplus; a statement of changes in financial position; and a schedule of investments. The statements must be prepared on forms and according to instructions prescribed by the commissioner. The financial statements must be filed with the commissioner no later than one hundred eighty days after the end of the self-insurance health plan's fiscal year. In lieu of self-prepared financial statements, a self-insurance health plan may submit audited financial statements prepared by an independent certified public accountant. The auditor's report must be submitted no later than thirty days after completion of the audit. 2. Quarterly reports. If the commissioner determines a self-insurance health plan's financial integrity is such that the self-insurance health plan's ability to meet obligations promptly and in full will be significantly impaired, the commissioner may require the self-insurance health plan to file quarterly reports with the commissioner no later than thirty days after the end of the first, second, and third quarters of each fiscal year. The commissioner may remove the requirement to file quarterly reports when the self-insurance health plan's financial integrity is restored. A quarterly report must contain statements of the self-insurance health plan's: a. Current total cash on hand and on deposit, and total investment; b. Current total reserve for outstanding losses reported and unreported; c. Gross premiums written during the quarter; d. Losses paid during the quarter; e. Current total members; and f. Any other information that the commissioner requests.