AZ SB1553

Requires persons offering health care sharing plans or arrangements in Arizona to submit detailed information to the Department of Insurance by December 1, 2024 and June 1 annually, including participant numbers, fees collected, reimbursement requests, and marketing materials.

Directs the department to review submissions within 45 days, issue deficiency notices if incomplete, and allow 30 days for corrections before imposing civil penalties up to $5,000 per day.

Requires the department to post written reports summarizing submitted information on its website by April 1, 2025 and October 1 thereafter, along with consumer complaint filing instructions.

Mandates that health care sharing plan providers and insurers offering such arrangements must verbally and in writing explain to prospective customers the differences from health insurance, that claims are not guaranteed, and eligibility for affordable care tax credits.

Exempts direct primary care agreements and other consumer payment arrangements identified by the director by rule from these reporting and disclosure requirements.