This bill establishes a new section in Florida law, specifically section 624.4032, which authorizes nonprofit agricultural organizations to offer medical benefit plans to their members. The bill defines a nonprofit agricultural organization and outlines specific criteria that such organizations must meet, including being domiciled in Florida, being exempt from federal income tax under section 501(c)(3), and existing primarily to promote rural community development and support farmers. The medical benefit plans provided by these organizations are explicitly stated to not be classified as insurance under the Florida Insurance Code.

Additionally, the bill mandates that nonprofit agricultural organizations provide a written disclaimer on all applications and marketing materials related to the medical benefit plans, ensuring that consumers are aware that these plans do not carry the same regulatory protections as health insurance. The disclaimer must be prominently displayed and in a specified format. The organizations are also prohibited from marketing or selling these plans through licensed agents and are required to conduct an annual financial audit, which must be made publicly available. The act is set to take effect on July 1, 2025.