AR HB1404

Amends Arkansas Code § 23-60-104 to clarify that burial associations, direct primary care agreements, healthcare sharing ministries, and noninsurance healthcare benefits coverage by not-for-profit membership organizations are exempt from Arkansas Insurance Code regulation

Defines "direct primary care agreement" as a written contract between a healthcare provider and patient that allows termination without penalty within 60 days, specifies periodic fees and services, and must include a disclaimer that it is not health insurance and may not meet federal minimum essential health benefits

Defines "healthcare sharing ministry" as a faith-based nonprofit organization that facilitates voluntary contributions between members to cover medical needs, with no guarantee of payment and must provide written monthly statements and disclaimers that participation is not insurance

Defines "not-for-profit membership organization" as a professional or trade association with 501(c)(3) tax-exempt status that provides noninsurance healthcare benefits coverage; allows such coverage to be reinsured and requires annual actuarial statements filed with the Insurance Commissioner

Amends Arkansas Code § 23-76-103(c) to exclude healthcare sharing ministries, direct primary care agreements, and noninsurance healthcare benefits coverage from hospital and medical service corporation regulations; effective January 1, 2022