In order for health insurance coverage to qualify for premium assistance payments for an eligible child under ss. 409.810-409.821, the health benefits coverage must:
(1) Be certified by the Office of Insurance Regulation of the Financial Services Commission under s. 409.818 as meeting, exceeding, or being actuarially equivalent to the benchmark benefit plan;
(2) Be guarantee issued;
(3) Be community rated;
(4) Not impose any preexisting condition exclusion for covered benefits;
(5) Comply with the applicable limitations on premiums and cost sharing in s. 409.816;
(6) Comply with the quality assurance and access standards developed under s. 409.820; and
(7) Establish periodic open enrollment periods, which may not occur more frequently than quarterly.