Each
policy issued by a self-funded multiple employer welfare
arrangement must contain, in ten-point type on the front page and
the declaration page, the following notice:
"NOTICE
This policy is issued by a self-funded multiple employer welfare
arrangement. A self-funded multiple employer welfare arrangement
may not be subject to all of the insurance laws and regulations
of your state. State insurance insolvency guaranty funds are not
available for a self-funded multiple employer welfare
arrangement."