This bill establishes a new section in the Florida Statutes, 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 the sustainability of farmers. Additionally, these organizations must have been in existence before 1945 and collect annual dues from their members.

The bill also stipulates the responsibilities and limitations of nonprofit agricultural organizations in relation to the medical benefit plans they offer. These plans are explicitly stated not to be considered insurance under the Florida Insurance Code. Organizations must provide a written disclaimer on all marketing materials, indicating that the plans are not subject to the same regulatory requirements as health insurance. Furthermore, they are prohibited from marketing through licensed agents and must conduct annual financial audits by an independent accountant, making the results available to the public. The act is set to take effect on July 1, 2025.

Statutes affected:
H 497 Filed: 624.01, 624.12