The bill enacts section 3901.96 of the Revised Code, which specifically excludes nonprofit agricultural membership organizations from certain insurance regulations. It defines a "nonprofit agricultural membership organization" as one that was incorporated in Ohio on or before December 31, 1919, with the purpose of promoting farmers' interests and providing healthcare benefit coverage exclusively to its members and their families. The bill outlines that healthcare benefit coverage provided by such organizations is not subject to Title XXXIX or specific chapters of the Revised Code, and it shall not be classified as insurance under Ohio law.

Additionally, the bill mandates that any application for healthcare benefit coverage and contracts provided to members must be in writing and clearly state that the coverage is not insurance and is not governed by state insurance laws. It also prohibits these organizations from representing their healthcare benefit coverage as insurance in any marketing materials. Furthermore, it allows for the risks associated with the healthcare benefit coverage to be assumed or reinsured by a company authorized to conduct insurance business in Ohio.