This bill aims to enhance the diversity and transparency of health care sharing ministries in New Jersey by establishing new definitions and reporting requirements. It allows for the creation of health care sharing ministries that do not have to meet the previous requirement of being in continuous operation since December 31, 1999, thus exempting participants in these newer ministries from being classified as "applicable individuals" under the state's minimum essential coverage requirement. The bill also defines a health care sharing ministry as a not-for-profit organization that shares medical expenses among members with common ethical or religious beliefs, and it excludes those that do not conduct annual audits by independent certified public accountants.

Additionally, the bill mandates that health care sharing ministries and organizations offering plans for health care cost reimbursement must disclose various operational details on their websites, including participant numbers, financial data, and any legal actions taken against them in other states. Failure to comply with these reporting requirements may result in penalties or legal actions from the Director of Consumer Affairs. The bill is set to take effect 60 days after enactment, allowing for necessary administrative preparations.

Statutes affected:
Introduced: 54A:11-2