Establishes reference-based pricing system for certain medical services.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill establishes a system called ‘reference-based pricing’ for certain medical services in New Jersey. Under this system, health insurance carriers would pay healthcare providers a set price for services, based on a pre-determined ‘reference price’ rather than the provider’s billed amount. The Department of Banking and Insurance would oversee the system, determining which services are subject to this pricing and ensuring access for patients. The bill also requires insurers to provide consumers with a list of covered services and participating providers.
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