S608 - Health Care Sharing Organizations

• Exempts health care sharing organizations from North Carolina health insurance regulatory jurisdiction and oversight by the Insurance Commissioner.

• Requires qualifying organizations to maintain nonprofit status under the Internal Revenue Code and limit participation to members with similar interests.

• Organizations must facilitate direct contributions between participants for medical needs with no assumption of risk or promise to pay by either participants or the organization itself.

• Mandates monthly written statements to participants showing total qualified medical needs submitted and contribution amounts assigned to each participant.

• Requires organizations to publish a written disclaimer stating the arrangement is not insurance and participation is voluntary, with individuals remaining personally liable for their own medical bills.

• Effective October 1, 2011.