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 participants in health care sharing ministries created after December 31, 1999, to be exempt from the state's minimum essential coverage requirement, which previously mandated that all applicable individuals maintain health insurance or face a state tax. The bill also introduces a comprehensive set of reporting obligations for these ministries, including the total number of participants, financial details regarding fees and reimbursements, and information about contracts with health care providers.

Additionally, the bill defines a health care sharing ministry as a not-for-profit organization that shares medical expenses among members with common ethical or religious beliefs, while also stipulating that such ministries must conduct annual audits by independent certified public accountants and make these audits publicly available. Ministries that fail to comply with the new reporting requirements may face penalties or legal actions. The bill emphasizes the need for transparency and consumer protection in the operation of health care sharing ministries, ensuring that participants are well-informed about the nature of the plans they are involved in.

Statutes affected:
Introduced: 54A:11-2