MN HF2683

Permits private-sector entities and individuals registered with the Commissioner of Commerce to administer unified personal health premium accounts for Minnesota residents, including licensed insurance producers, risk management vendors, and federally or state-chartered banks or credit unions.

Requires administrators to maintain written agreements specifying services provided, payment amounts including administrative costs, and payment timing; allows accounts to be administered separately or with other employee benefit services.

Establishes trust account requirements allowing contributions from employers, individuals, family members, charitable organizations, and other sources, with contributors able to restrict fund usage to specific types of health insurance coverage.

Requires administrators to maintain records enabling account holders to benefit from federal and state tax advantages (Internal Revenue Code sections 105, 106, 125) and notify account holders of applicable tax subsidies and credits.

Authorizes the Commissioner of Human Services to enter agreements allowing administrators to receive public funds as premium subsidies for eligible individuals, and repeals Minnesota Statutes 2010, section 62L.12, subdivisions 3 and 4.