HF 4218 Summary

• Authorizes in-home day care cooperatives organized under Minnesota law to establish joint self-insurance plans that provide health, dental, and other benefits to cooperative members, employees, and dependents.

• Requires plans to include stop-loss coverage with a minimum $20,000 individual attachment point and 110 percent aggregate attachment point, plus an actuarially-certified reserve fund for unpaid claims.

• Exempts qualifying plans from Minnesota health insurance regulations (chapters 62A, 62H, 62Q) if they comply with federal Employee Retirement Income Security Act requirements and maintain member control with at least 51 percent voting power.

• Requires members committing to participate to do so for at least three consecutive years, with financial penalties exceeding their reserve contributions for early termination.

• Plans must operate as a single risk pool, be governed by an elected board of cooperative members, and submit all Department of Labor filings to Minnesota's Commissioner of Commerce; effective June 1, 2022.