The proposed bill, General Assembly Proposed Bill No. 5089, seeks to amend title 38a of the general statutes to allow credit unions, banks chartered in the state, and professional associations or organizations of realtors to establish or participate in multiple employer welfare arrangements. This change aims to expand the options available for these entities to provide employee benefits and health care coverage through collaborative arrangements.

The bill introduces new legal language that specifically authorizes these financial institutions and realtor organizations to engage in such welfare arrangements, thereby enhancing their ability to offer competitive benefits to their members. There are no deletions from current law noted in the text of the bill. The overall purpose is to facilitate better access to employee welfare benefits for members of these organizations.