(1) An insurance institution or insurance-support organization shall, within 30 days of receiving a written request from an entity listed in subsection (2) that it provides coverage for, disclose to that entity the following information that the entity specifically requests about the entity's coverage:
(a) total premiums collected from the entity for the policy year; and
(b) total losses paid out with respect to the entity for the policy year.
(2) Any of the following entities may request information about the entity's coverage pursuant to this section:
(a) an association having a group health insurance program for its members;
(b) a group purchasing cooperative;
(c) a group health plan that is a multiple employer welfare arrangement;
(d) a self-insured group; and
(e) a business that provides group health insurance for its employees, except that a business with between 2 and 50 employees is not subject to the provisions of this section.
(3) Information disclosed pursuant to this section may not include any personal information pertaining to an individual covered by a group plan that has been obtained or administered by an entity listed in subsection (2).
(4) Information that is obtainable pursuant to the provisions of this section may not be requested more than once during any calendar year.
(5) An association provided for in subsection (2)(a) must be provided with reasonable information by its insurance institution or insurance-support organization to enable the association to receive a bid or quote for coverage from other insurance entities.