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 and make these audits available to the public.

Additionally, the bill introduces comprehensive reporting requirements for health care sharing ministries and organizations that facilitate health care cost payments for residents. These requirements include disclosing the number of participants, total fees collected, reimbursement requests, and other operational details on their websites annually. Ministries that fail to comply with these requirements may face monetary penalties or legal actions. The bill also mandates that these organizations clearly inform participants that their plans are not health insurance and protect personal information collected from participants. The provisions of the bill will take effect 60 days after enactment, with the Director of Consumer Affairs authorized to implement necessary regulations.

Statutes affected:
Introduced: 54A:11-2