S 2993
Imposes certain rate filing requirements concerning certain health benefits plans available on State-based exchange.
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Sign in to take action- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill establishes rate filing requirements for certain health benefits plans offered through New Jersey’s State-based health insurance exchange, ‘Get Covered NJ.’ It mandates that health insurance carriers offering these plans must follow the Affordable Care Act’s single-risk-pool rule, ensuring pricing is based on projected utilization by the entire market risk pool. The bill also requires the Department of Banking and Insurance to create regulations and consider consumer purchasing power and plan design when reviewing rate changes, aiming to promote affordability and equitable access to coverage.
Sponsors
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Primary sponsor
Joseph Vitale
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