AN ACT AUTHORIZING CREDIT UNIONS, BANKS AND REALTOR ASSOCIATIONS OR ORGANIZATIONS TO ESTABLISH OR PARTICIPATE IN MULTIPLE EMPLOYER WELFARE ARRANGEMENTS.

HB 5089 authorizes credit unions, state-chartered banks, and realtor associations to establish or join multiple employer welfare arrangements (MEWAs). These arrangements allow multiple employers to pool resources to provide group benefits like health insurance, directly affecting the covered entities and their employees. The bill amends state law to remove current restrictions preventing these specific organizations from using MEWAs. This change creates a new option for smaller businesses and industry groups to access affordable, shared benefit plans.