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 coverage or face a state-imposed tax. 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 and retains membership even after members develop medical conditions. It also specifies that ministries must conduct annual audits by independent certified public accountants to maintain their status.

Additionally, the bill introduces comprehensive reporting requirements for health care sharing ministries and organizations that facilitate health care cost payments for New Jersey residents. These requirements include disclosing the number of participants, total fees collected, reimbursement requests, and any legal actions taken against the organization in other states. Ministries that fail to comply with these reporting obligations may face monetary penalties or other administrative actions. The bill emphasizes the need for transparency and consumer protection in the health care sharing ministry sector, ensuring that participants are well-informed about the nature of the plans offered.

Statutes affected:
Introduced: 54A:11-2