Authorizes a nonprofit agricultural organization to provide health benefit coverage that is: (1) sponsored by the nonprofit agricultural organization or its affiliate; (2) offered only to members of the nonprofit agricultural organization and their families; (3) deemed by the nonprofit agricultural organization to be important in assisting its members to live long and productive lives; and (4) offered in every county in Indiana. Provides that nonprofit agricultural organization coverage is not insurance and is not subject to the regulatory authority of the department of insurance, and that a nonprofit agricultural organization providing health coverage is not engaged in the business of insurance and is not required to obtain a certificate of authority. Provides that an individual may not apply for health coverage provided by a nonprofit agricultural organization until the individual has been a member of the nonprofit agricultural organization for at least 30 days. Mandates that the health coverage cover ambulatory patient services, hospitalization, emergency services, and laboratory services, and provides that the coverage may not be subject to an annual limit of less than $2,000,000 per year. Requires a nonprofit agricultural organization offering health coverage: (1) to annually file with the department of insurance a written, signed opinion of a qualified actuary that the plan reserves of the nonprofit agricultural organization and its affiliate are adequate and conform to the appropriate actuarial standards of practice; and (2) to reinsure all or a portion of its risks. Provides that an individual entering into a health coverage contract with a nonprofit agricultural organization must acknowledge in a signed writing that the coverage: (1) is not considered insurance; and (2) is not subject to the administrative rules of the department of insurance.
Authorizes a nonprofit agricultural organization to provide health benefit coverage that is: (1) sponsored by the nonprofit agricultural organization or its affiliate; (2) offered only to members of the nonprofit agricultural organization and their families; (3) deemed by the nonprofit agricultural organization to be important in assisting its members to live long and productive lives; and (4) offered in every county in Indiana. Provides that nonprofit agricultural organization coverage is not insurance and is not subject to the regulatory authority of the department of insurance, and that a nonprofit agricultural organization providing health coverage is not engaged in the business of insurance and is not required to obtain a certificate of authority. Provides that an individual may not apply for health coverage provided by a nonprofit agricultural organization until the individual has been a member of the nonprofit agricultural organization for at least 30 days. Mandates that the health coverage cover ambulatory patient services, hospitalization, emergency services, and laboratory services, and provides that the coverage may not be subject to an annual limit of less than $2,000,000 per year. Requires a nonprofit agricultural organization offering health coverage: (1) to annually file with the department of insurance a written, signed opinion of a qualified actuary that the plan reserves of the nonprofit agricultural organization and its affiliate are adequate and conform to the appropriate actuarial standards of practice; and (2) to reinsure all or a portion of its risks. Provides that an individual entering into a health coverage contract with a nonprofit agricultural organization must acknowledge in a signed writing that the coverage: (1) is not considered insurance; and (2) is not subject to the administrative rules of the department of insurance.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Engrossed Senate Bill (H) (committee substitute) — source
Enrolled Senate Bill (S) (committee substitute) — source
Introduced Senate Bill (S) (committee substitute) — source
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