MS SB2851

Creates a new category of "nonprofit agricultural membership organization" (NAMO) exempt from insurance regulation if incorporated in Mississippi, has representation in every county, promotes agricultural interests, and provides healthcare coverage to members and families.

Requires NAMO healthcare plans to be self-funded and administered by a state-licensed third-party administrator, with minimum annual coverage limits of $2,000,000 per enrollee including ambulatory services, hospitalization, emergency services, and laboratory services.

Mandates each NAMO designate an ombudsman to handle member complaints through a complaint policy similar to the State Insurance Department's, with the ombudsman solely responsible for investigating and resolving complaints.

Requires annual certified actuarial statements demonstrating adequate plan reserves and allows risk reinsurance through authorized insurers; prohibits preexisting condition waiting periods exceeding six months.

Permits only licensed insurance producers appointed by qualifying organizations to sell NAMO healthcare coverage; exempts NAMOs from all insurance laws and Department of Insurance rules; effective July 1, 2024.