HB 6019

Abstract

Amends the Charitable Trust Act. Sets forth a definition of "Medical Sharing Trust". Provides that an organization complying with the provisions concerning a Medical Sharing Trust is not subject to the provisions of the Illinois Insurance Code, except that a Medical Sharing Trust offering any services other than a Medical Sharing Trust that are regulated under any provision of the Illinois Insurance Code shall be required to comply with the Illinois Insurance Code with respect to the provision of those services. Sets forth registration requirements for a Medical Sharing Trust. Provides that a Medical Sharing Trust may facilitate payments between participants who have present medical needs and participants with the ability to pay for the benefits of those participants in need. Sets forth requirements concerning the operation of a Medical Sharing Trust.