158-13 Joint Health Insurance Fund.pdf

#1975041 v3 109824-80036 3. The obligation of the Township of West Orange to actually join in the establishment of said Joint Health Insurance Fund is further expressly conditioned on the approval by the New Jersey Department of Banking and Insurance of said application for the establishment of such a Joint Health Insurance Fund and, that, if the New Jersey Department of Banking and Insurance does not approve said application, the Township of West Orange shall be under no obligation to take any further action whatsoever in connection with the establishment of a Joint Health Insurance Fund; 4. The Member Agreement and By-laws to be approved by the Mayor and Council of the Township of West Orange shall be executed by a duly authorized official of the Township of West Orange, and such agreement shall include (but not be limited to) the following terms: a. The extent of participation by theTownship of West Orange in the contemplated Joint Health Insurance Fund is limited to the self funding of health benefits, and; b. The extent of membership in the Joint Health Insurance Fund shall be for an initial term of no more than three years , in compliance with N.J.S.A. 40A:11- 15(6) and N.J.A.C. 11:15-3.10, and; c. That as a condition of participation in the contemplated Joint Health Insurance Fund, that each Fund member attest that it has never defaulted on claims if self- insured, and if not self-insured, has not been cancelled for non-payment of insurance premiums for a period of at least two years prior to application. _______________________________ Susan McCartney, Council President _______________________________ Karen Carnevale, Municipal Clerk Adopted: August 20, 2013