MN HF4333

Creates a new "short-term home health and nursing care insurance" product in Minnesota that covers home health services (nursing care, physical/speech/occupational therapy, homemaker services) and nursing facility care for up to 360 days maximum

Benefits trigger when the insured has cognitive impairment or cannot perform at least two activities of daily living without substantial assistance; coverage cannot be canceled due to health deterioration or benefit use

Requires a minimum 30-day free-look period for full premium refunds, and mandates written disclosures stating the product is supplemental insurance and is not long-term care insurance or part of the Minnesota partnership for long-term care program

Distinguishes this product from long-term care insurance by exempting it from long-term care policy regulations (sections 62A.46 to 62A.56) while classifying it as a fixed indemnity policy subject to commissioner approval

Establishes civil penalties of up to $200 per offense for insurers violating the new requirements, with potential license revocation for willful violations; clarifies that this insurance does not disqualify individuals from the alternative care program for non-medical assistance recipients