(a) It is a defense under this subchapter if an employer establishes that the employer's actions were based on legitimate, nondiscriminatory factors and not on reasons related to military service.
(b) Provided the conduct at issue is based on a bona fide business judgment and is not a pretext for discrimination that is prohibited under this subchapter, this subchapter shall not be construed to prohibit or restrict:
(1) An insurer, hospital, medical service company, health maintenance organization, or any agent or entity that administers benefit plans or any bank, savings and loan, or other lender from underwriting insurance or lending risks or administering such risks that are based on or are not inconsistent with federal or state law;
(2) A person covered by this subchapter from establishing, sponsoring, observing, or administering the terms of a bona fide benefit plan that are based on underwriting risks, classifying risks, or administering such risks that are based on or are not inconsistent with federal or state law; or
(3) A person covered by this subchapter from establishing, sponsoring, observing, or administering the terms of a bona fide benefit plan that is not subject to federal or state laws that regulate insurance.