A self-funded or partially self-funded multiple employer welfare arrangement authorized by this article shall be limited to providing the following benefits:
(a) Medical, dental, optical, surgical, or other hospital care benefits.
(b) Benefits in the event of sickness, accident, or disability.
(c) Flexible benefits under Section 125 of the Internal Revenue Code. These benefits shall not include loss from liability imposed by law upon employers to compensate employees and their dependents for injury sustained by the employees arising out of and in the course of the employment, irrespective of negligence or the fault of either party.
(Added by Stats. 1994, Ch. 1082, Sec. 1. Effective January 1, 1995.)