FL H1483

Renames Chapter 632, Florida Statutes from "Fraternal Benefit Societies" to "Nonprofit Health Coverage" and reorganizes it into two parts.

Authorizes nonprofit membership organizations and agricultural cooperative associations to offer health care benefit coverage to their members without such coverage being considered insurance.

Defines "nonprofit membership organization" as a professional or trade association exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code that exists to serve members beyond health coverage; defines "agricultural cooperative association" as an organization that promotes the marketing of agricultural products through producer cooperation.

Requires organizations offering health care benefit coverage to file a signed, certified statement of actuarial opinion with the Commissioner of Insurance Regulation by February 28 of each year and permits them to cede individual risks through reinsurance agreements with authorized insurers.

Effective date is January 1, 2024.