This bill establishes new provisions regarding the acceptance of health care sharing ministries by institutions of higher education in North Dakota and outlines the exemptions for these ministries from insurance laws. It creates a new section in chapter 15-10 of the North Dakota Century Code, stating that a student's participation in a health care sharing ministry satisfies health care coverage requirements for students, with the exception of international students who must comply with federal insurance regulations. Institutions are required to ensure that these international students obtain health insurance that meets specific standards.

Additionally, the bill introduces a new chapter to title 50, defining what constitutes a health care sharing ministry. It specifies that such organizations must be nonprofit, tax-exempt, and limit participation to individuals sharing common ethical or religious beliefs. The bill outlines the operational criteria for these ministries, including the requirement for an annual audit and the provision of disclaimers to participants clarifying that these organizations do not operate as insurance companies. Furthermore, it states that health care sharing ministries are not considered to be engaging in the business of insurance and are therefore exempt from related regulations.