Bill Summary for S 608 (2011-2012)
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View NCGA Bill Details | 2011-2012 Session |
TO EXEMPT HEALTH CARE SHARING ORGANIZATIONS FROM THE HEALTH INSURANCE REGULATORY LAWS.Intro. by Hunt.
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Bill 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.