The 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. It defines a "nonprofit agricultural organization" as one that meets specific criteria, including being domiciled in Florida, exempt from federal income tax under section 501(c)(3), primarily focused on promoting rural community development and the economic stability of farmers, and having been in existence before 1945. The bill outlines the authority and responsibilities of these organizations, including the requirement to collect annual dues from members.

Additionally, the bill stipulates that the medical benefit plans offered by these organizations are not classified as insurance under the Florida Insurance Code. It mandates that a written disclaimer be provided with all applications and marketing materials, clearly stating that the plans are not subject to the same regulatory requirements as health insurance. Nonprofit agricultural organizations are prohibited from marketing or selling these plans through licensed agents and must conduct annual financial audits by an independent certified public 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