WI SB450

Allows nonprofit agricultural organizations established before January 1, 1922 and organized as Wisconsin cooperatives to offer health benefit coverage to members and their families, exempt from state insurance law regulations

Requires organizations to offer coverage in every county, obtain reinsurance from authorized companies, and file annual actuarial opinions with the Commissioner of Insurance confirming adequate financial reserves

Mandates written disclosure to members that coverage is not health insurance and may not satisfy federal individual or employer insurance requirements under the Affordable Care Act

Prohibits preexisting condition exclusions lasting more than 6 months and bars refusal to cover services provided by licensed health care providers if the same services are covered when performed by physicians

Requires organizations to establish a member complaint resolution process consistent with the Office of the Commissioner of Insurance's procedures for health insurance complaints