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 these ministries have 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 and detailing its operational guidelines. It specifies that such ministries are nonprofit organizations recognized as tax-exempt, which facilitate the sharing of medical expenses among members with common ethical or religious beliefs. The bill clarifies that these ministries do not operate as insurance companies and are exempt from insurance regulations, provided they meet certain criteria, including conducting annual audits and providing disclaimers about their non-insurance status.