Bill > SB1279

This bill creates the Health Care Sharing Ministries (HCSM) Tax Parity Act, which provides tax benefits for members of health care sharing ministries, which are non-profit organizations where members voluntarily contribute to each other's medical expenses based on shared ethical or religious beliefs. The bill defines an HCSM as a tax-exempt organization that facilitates medical expense sharing among members, requires quarterly financial reporting, and provides a disclaimer that it is not insurance. Starting in tax year 2027, the bill allows qualified individuals (Oklahoma residents who have been active HCSM members for at least one month) to take a tax deduction for their HCSM membership expenses, including membership fees and administrative costs. Additionally, the bill exempts any money received from an HCSM to help cover medical expenses from state taxable income. To claim these tax benefits, individuals must use a specific form prescribed by the Oklahoma Tax Commission, which will also develop rules for verifying claims. The act will become effective on November 1, 2026, providing a clear framework for tax treatment of HCSM participation in Oklahoma.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1279&Session=2600