FL S0480

Authorizes nonprofit agricultural organizations in Florida to offer medical benefit plans to their members, with such plans explicitly excluded from being classified as insurance under the Florida Insurance Code

Defines "nonprofit agricultural organization" as a Florida-domiciled 501(c)(3) entity created primarily to promote rural community development and farmer economic stability, in existence before 1945, with members residing in the majority of Florida counties

Requires a written disclaimer in contrasting color and at least 12-point type on all applications and marketing materials, clearly stating the plan is not health insurance and is not subject to Florida Insurance Code regulatory requirements or consumer protections

Prohibits the nonprofit agricultural organization from marketing or selling medical benefit plans through agents licensed by the Department of Financial Services

Requires an annual financial audit conducted by an independent certified public accountant in accordance with generally accepted auditing standards, made publicly available upon request or on the organization's website; effective July 1, 2025