H.B. 474 Summary

• Defines "health care sharing ministry" as a nonprofit organization where participants share common ethical or religious beliefs and voluntarily contribute to meet others' medical and financial needs, with no assumption of risk or promise to pay.

• Exempts health care sharing ministries from Ohio's insurance laws and grants the attorney general exclusive authority to determine whether an organization meets the definition.

• Requires health care sharing ministries to conduct annual independent audits, provide annual reporting of shared medical expenses, and include specific written disclaimers stating participation is not insurance.

• Allows Ohio state institutions of higher education to accept participation in a health care sharing ministry in satisfaction of health insurance coverage requirements.

• Permits taxpayers to deduct amounts paid for health care sharing ministry membership for themselves, spouses, and dependents from Ohio adjusted gross income.