Official Summary

Digest: Says that a person that offers or sells a health care cost sharing arrangement to a resident of this state must register with a state agency. Tells the person to submit a report to the agency each year. Tells the person what to say or not say to a resident in making an offer or a sale. (Flesch Readability Score: 70.2). Requires a person that advertises, solicits, markets, sells or offers a health care cost sharing arrangement in this state or enters into a health care cost sharing arrangement with a resident must register with the Director of the Department of Consumer and Business Services. Specifies the contents required for the application. Requires registrants to file an annual report with the director and specifies the contents of the report. Requires certain disclosures in communications with residents. Punishes a violation of the Act as an unlawful trade practice under the Unlawful Trade Practices Act. Takes effect on the 91st day following adjournment sine die.