Florida Senate - 2025                        COMMITTEE AMENDMENT
       Bill No. SB 480
       
       
       
       
       
       
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                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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       The Committee on Banking and Insurance (DiCeglie) recommended
       the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Section 624.4032, Florida Statutes, is created
    6  to read:
    7         624.4032 Nonprofit agricultural organization medical
    8  benefit plans.—
    9         (1) The purpose of this section is to authorize nonprofit
   10  agricultural organizations to offer medical benefit plans to
   11  their members.
   12         (2) For purposes of this section, the term “nonprofit
   13  agricultural organization” means an organization that meets all
   14  of the following criteria:
   15         (a) Is domiciled in this state.
   16         (b) Is exempt from federal income tax under s. 501(c)(3) of
   17  the Internal Revenue Code.
   18         (c) Was created primarily to promote programs for the
   19  development of rural communities and the economic stability and
   20  sustainability of farmers in this state.
   21         (d) Exists to serve its members beyond only offering
   22  medical expense plans.
   23         (e) Collects annual dues from its members.
   24         (f) Was in existence before 1945.
   25         (g) Is composed of members who, collectively, are residents
   26  of the majority of counties in this state.
   27         (3) A nonprofit agricultural organization:
   28         (a) May offer medical benefit plans to its members. Such
   29  plans are not insurance for purposes of the Florida Insurance
   30  Code.
   31         (b) Shall provide a written disclaimer on or accompanying
   32  all applications and marketing materials for a medical benefit
   33  plan, regardless of whether such applications and marketing
   34  materials are distributed by or on behalf of the nonprofit
   35  agricultural organization. The disclaimer must be in contrasting
   36  color and at least 12-point type. The disclaimer must read in
   37  substantially the following form:
   38  
   39         Notice: This medical benefit plan is not a health
   40         insurance policy or health maintenance organization
   41         contract and is not subject to the regulatory
   42         requirements and consumer protections that apply to
   43         health insurance policies or health maintenance
   44         organization contracts under the Florida Insurance
   45         Code. The nonprofit agricultural organization offering
   46         this medical benefit plan is not an authorized insurer
   47         or authorized health maintenance organization in
   48         Florida and the nonprofit agricultural organization is
   49         not subject to the regulatory requirements or consumer
   50         protections of the Florida Insurance Code.
   51  
   52         (c) May not market or sell medical benefit plans through
   53  agents licensed by the department.
   54         (d) Must conduct an annual financial audit that is
   55  performed by an independent certified public accountant in
   56  accordance with generally accepted accounting principles and
   57  make it publicly available either by providing a copy upon
   58  request or posting it on the nonprofit agricultural
   59  organization’s website.
   60         Section 2. This act shall take effect July 1, 2025.
   61  
   62  ================= T I T L E  A M E N D M E N T ================
   63  And the title is amended as follows:
   64         Delete everything before the enacting clause
   65  and insert:
   66                        A bill to be entitled                      
   67         An act relating to nonprofit agricultural organization
   68         medical benefit plans; creating s. 624.4032, F.S.;
   69         providing legislative purpose; defining the term
   70         “nonprofit agricultural organization”; authorizing
   71         nonprofit agricultural organizations to provide
   72         medical benefit plans; specifying that such plans are
   73         not insurance for purposes of the Florida Insurance
   74         Code; requiring a specified disclosure; providing
   75         requirements for the disclosure; prohibiting the
   76         nonprofit agricultural organization from marketing or
   77         selling a medical benefit plan through specified
   78         agents; requiring the nonprofit agricultural
   79         organization to conduct an annual financial audit and
   80         make such audit publicly available; providing an
   81         effective date.