2. The franchised corporation shall enter into a memorandum of understanding with the jockey's organization that represents at least fifty-one percent of eligible active jockeys establishing a plan of operation for the program, provided that such memorandum of understanding shall be approved by the gaming commission and include, but not be limited to, the following conditions: a. health insurance policies must be purchased on an American health benefit exchange established pursuant to 42 U.S.C. § 18031(b) by the insured; b. health insurance policies eligible to be purchased under the program shall be any policy that is silver level of coverage or lower as defined by 42 U.S.C.§18022(d). Provided, however, the insured may elect to purchase a gold level or platinum level of coverage as defined by 42 U.S.C. § 18022(d) if the insured pays the difference in premiums between such policy and the premium for the silver level policy offered by the same insurer. Such payments shall be paid into the account established in subdivision one of this section and shall be governed by the terms of the memorandum of understanding required by this section; c. the payment of premiums shall be made on behalf of eligible jockeys pursuant to paragraph d of this subdivision by the franchised corporation from monies in the account established in subdivision one of this section directly to the health plan selected pursuant to paragraph b of this subdivision; d. to be eligible to receive health insurance through this program, an individual must meet one of the following requirements:

1. (i) have ridden in at least two hundred fifty races conducted by the franchised corporation during the prior calendar year or in at least one hundred fifty races conducted by any other corporation or association licensed pursuant to this article during the prior calendar year; provided, however, if an individual qualified for coverage in any prior year and fails to meet the qualification due to an injury not resulting in a permanent disability, that individual shall be deemed to have met the qualification; or
2. (ii) have retired from racing on or after January first, two thousand ten after having ridden in at least seventy-five hundred races conducted by any corporation or association licensed pursuant to this article. For the purposes of this section, an individual shall be considered retired from racing if they have ridden in fewer than fifty races at any track in the nation licensed to conduct thoroughbred racing during the calendar year; or
3. (iii) have become permanently disabled due to a racing accident while eligible to receive benefits or would become eligible to receive benefits in the following year pursuant to subparagraph (i) of this paragraph; provided, however, if an individual fails to meet the qualification of such subparagraph (i) due to an injury resulting in a permanent disability, that individual shall be deemed to have met the qualification; and e. the gaming commission shall have the following powers:
4. (i) to rule on eligibility in the event of a denial of coverage pursuant to paragraph d of this subdivision. In the event of a denial of coverage, such individual denied eligibility may appeal to the gaming commission;
5. (ii) to make a determination if an individual would have qualified pursuant to subparagraph (i) of paragraph d of this subdivision in the event that the individual suffers an injury and contends that he or she would have qualified had they not suffered such injury; and
6. (iii) to audit the books and records of the program.