Health care sharing arrangements annual reporting requirement provision

SF 3462 requires health care sharing arrangements operating in Minnesota to submit annual reports to the state Department of Commerce by October 1, 2025, and March 1 each subsequent year. These reports must detail participant numbers, fees collected, payments made for health care costs, coverage exclusions (including preexisting conditions), and provider networks. The Department of Commerce must then publish public summaries of this data by December 1, 2025, and April 1 annually. The bill directly affects health care sharing arrangements that serve Minnesota residents but are not traditional health insurers, aiming to increase transparency about their operations and financial practices.