HF 236 Bill Summary

• Creates new chapter 62W establishing unified personal health premium accounts as trust accounts that receive funds from multiple sources to pay health insurance premiums.

• Requires private-sector entities and individuals administering these accounts to register with the commissioner of commerce; eligible administrators include licensed insurance producers, risk management vendors, and federally or state-chartered banks or credit unions, with registration fees of $250 initially and $50 per three-year renewal.

• Permits contributions from individuals, employers, family members, charitable organizations, and other sources, with contributors able to restrict funds to specific health insurance types; requires administrators to maintain records enabling account holders to claim applicable tax advantages.

• Allows employer-contributed funds to remain available to account holders after employment ends and ensures individual market products purchased through these accounts are not subject to group insurance market requirements.

• Repeals Minnesota Statutes sections 62A.303 and 62L.12, subdivisions 3 and 4, which previously prohibited group splitting practices and directed certain employer prohibitions in the small employer health insurance market.