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Division of Insurance
Discount Medical Plan Organizations (DMPO)
A discount medical plan organization is an entity that, in exchange for fees, dues, charges, or other consideration, provides access for discount medical plan members to providers of medical or ancillary services and the right to receive medical or specialty services from those providers at a discount. It is the organization that contracts with providers, provider networks or other discount medical plans organizations to offer access to medical or specialty services at a discount and determines the charge to discount medical plan members.
Registered Discount Medical Plan Organizations
Licensure of a specific entity can be verified through SBS License Look Up Search.
DMPO License Application Information
Discount Medical Plan Organizations are required to submit license applications via National Insurance Producer Registry (NIPR). Review the DMPO Application Requirements Checklist when completing a DMPO application. All additional documents required to accompany the application must be submitted through NIPR Attachement Warehouse.
Surety Bond Form or Submission of Depository Information
A surety bond form, DMPO Surety Bond Form, is required to be completed and provided to the Division of Insurance through NIPR Attachement Warehouse.
DMPO Surety Bond Form
The form should include:
- Principal/Applicant - The name and address should match that of the applicant on the registration form.
- Signed and Sealed - The completion of the upper half of page 2 for the applicable entity structure is required.
- Acknowledgement of Principal - Principal must complete they type of acknowledgement that is applicable to their entity's structure.
- Individual, Partnership or Corporate Surety - Surety must complete this portion and have it signed by a South Dakota Resident Agent.
- Acknowledgement of Surety - Surety must complete the applicable acknowledgement section.
Submission of Depository Information
In lieu of the bond required, a registered discount medical plan organization may deposit and maintain deposited with the director, or at the discretion of the director, with any organization or trustee acceptable to the director through which a custodial or controlled account is utilized, cash, securities or any combination of these or other measures that are acceptable to the director which at all times have a market value of not less than $35,000. All income from the deposit is an asset of the discount medical plan organization.
For entities that want to meet their financial security by this means instead of the surety bond, written documentation is required from the depository.
For questions about the DMPO Application, contact the South Dakota Division of Insurance. If contacting by email, please enter DMPO Application in the subject line.