VA HB353

Expands the definition of "sponsoring association" for benefits consortiums to include nonprofit organizations operating under Section 501(c)(3) of the Internal Revenue Code, in addition to the existing 501(c)(5) and 501(c)(6) organizations.

Sponsoring associations must be Virginia nonstock corporations that have been in active existence for at least five years and formed for purposes other than obtaining health benefits.

Health benefit plans offered through sponsoring associations cannot condition membership or coverage on any health status-related factors of members, employees, or their dependents.

Wholly owned subsidiaries of qualifying sponsoring associations are also included in the expanded definition.