Bill > SB87

This bill aims to exempt health benefit plans sponsored by nonprofit agricultural organizations in South Dakota from insurance regulation. The key provisions include: (1) Defining the requirements for an eligible nonprofit agricultural organization, such as being domiciled in the state, promoting rural community development and farmer economic stability, and having a membership structure with annual dues and regular meetings; (2) Allowing these organizations to offer self-funded health benefit plans administered by a licensed third-party administrator, with the risk reinsured by an authorized insurance company; and (3) Requiring prominent disclosure to plan members that the health benefit plan is not insurance and not subject to insurance laws or regulation by the state's Division of Insurance.

Agriculture and Natural Resources, Business and Industry

https://sdlegislature.gov/#/Session/Bill/22143