AN ACT TO EXEMPT HEALTH CARE SHARING ORGANIZATIONS FROM THE HEALTH INSURANCE REGULATORY LAWS. Summarized in Daily Bulletin 4/14/11. Enacted June 2, 2011. Effective October 1, 2011.
Summary date: Jun 2 2011 - View summary
Bill S 608 (2011-2012)Summary date: Apr 14 2011 - View summary
Identical to H 578, filed 3/21/11.
Adds new GS 55-49-12 exempting a health care sharing organization from health insurance regulatory laws, as long as the organization (1) maintains nonprofit status under the Internal Revenue Code; (2) limits participants to those sharing similar interests; (3) provides for participants' needs through contributions from one participant to another in accordance with criteria established by the organization; (4) provides amounts that participants may contribute with no assumption of risk or promise to pay among participants or by the organization; (5) publishes monthly statements to participants; and (6) provides a written disclaimer on or with all applications and guideline materials, reading substantially as the notice set forth in the act. Effective October 1, 2011.