This bill establishes a new chapter, 26.1-08.1, in the North Dakota Century Code, which pertains to the comprehensive health association of North Dakota. It repeals the existing chapters 26.1-08 and 26.1-08.1, effectively replacing the previous legal framework governing the association. The new chapter includes definitions for key terms such as "association," "board," "creditable coverage," and "guaranteed issue," which outlines the conditions under which Medicare supplement policies must be issued. Additionally, the bill mandates that the association cease enrollment under its plan by May 1, 2025, and terminate all existing benefit plans by December 31, 2025, while ensuring that current policyholders receive at least a ninety-day notice of termination.

The bill also details the responsibilities of the board of directors during the transition period, allowing them to continue using a lead carrier for administrative tasks and to assess members based on actual program costs. It stipulates that individuals losing creditable coverage must be enrolled in a comparable health benefit plan or Medicare supplement policy. Furthermore, it establishes a statute of limitations for actions against the association or board, requiring that such actions be initiated within one year or by December 31, 2027, whichever comes first. The bill is declared an emergency measure and is set to take effect on December 31, 2027.