Incorporation and organization - exemptions

(1) Any nonprofit corporation organized under the laws of Colorado for the purpose of establishing, maintaining, and operating a nonprofit plan whereby prepaid hospital care, medical-surgical care, and other health services are made available to persons who become subscribers to the plan under a contract with the corporation, or for the purpose of providing long-term care insurance to persons pursuant to a contract with the corporation is subject to and governed by part 1 of this article 16 and this part 3 and, except as provided in this article 16 and elsewhere in this title 10, is not subject to the laws of this state relating to insurance or insurance companies. The provisions of section 10-3-128; articles 1 and 2 of this title 10; and parts 4, 5, 7, 8, 11, 12, and 16 of article 3 of this title 10, to the extent applicable, govern corporations organized pursuant to this part 3.

(2) The provisions of this part 3 shall not apply to any employer's health plan or services established and maintained solely for its employees and their immediate families, nor to any labor organization's health plan or services established and maintained solely for its members and their immediate families, which plans or services are self-insured, nor to any such health plan or services established, maintained, and insured jointly by any employer and any labor organization.