This bill establishes new reporting requirements for health care sharing arrangements in Minnesota, as outlined in a new section of the Minnesota Statutes, chapter 62A. It defines a "health care sharing arrangement" as an entity that facilitates the payment or reimbursement of health care costs for Minnesota residents but is not classified as a health carrier. The bill mandates that these arrangements submit an annual report to the commissioner of commerce, starting October 1, 2025, which must include detailed information about participants, financial data, covered benefits, exclusions, eligibility requirements, and more.

Additionally, the Department of Commerce is required to publish a summary of the collected information and provide guidance on how consumers can file complaints about these arrangements by December 1, 2025, and annually thereafter. This legislation aims to enhance transparency and accountability in health care sharing arrangements, ensuring that participants have access to essential information regarding their health care options.