SENATE COMMITTEE SUBSTITUTE FOR

SENATE, No. 2824

STATE OF NEW JERSEY

220th LEGISLATURE

  ADOPTED JANUARY 26, 2023

 


 

Sponsored by:

Senator  JOSEPH F. VITALE

District 19 (Middlesex)

Senator  NELLIE POU

District 35 (Bergen and Passaic)

 

 

 

 

SYNOPSIS

     Requires DOBI to conduct study on impact of merger of individual and small group health insurance markets, and on small employer health insurance subsidies.

 

CURRENT VERSION OF TEXT

     Substitute as adopted by the Senate Commerce Committee.

  

 


An Act requiring study of small employer health insurance and supplementing P.L.2020, c.61 (C.17B:27A-65 et seq.).

 

     Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

     1.    a.  The Department of Banking and Insurance shall conduct a study of:

     (1)   the impact on the New Jersey Individual Health Coverage Program and the New Jersey Small Employer Health Benefits Program of pursuing an amendment to the waiver of applicable provisions of the Affordable Care Act granted by the United States Secretary of Health and Human Services pursuant to 42 U.S.C. s.18052 in order to merge the individual and small group markets and extend reinsurance to small businesses purchasing health insurance through the pooled market; and

     (2)   the creation of a small employer health insurance subsidy and sustainable funding sources for that subsidy.  The examination shall consider the size of an effective and meaningful subsidy, an analysis of available sustainable funding sources, including an examination of the establishment of an assessment on other lines of insurance, the size of any such assessment, and how best to administer both the subsidy and a potential assessment.  The department shall examine similar subsidies and assessments in other states, including the New Mexico health care affordability fund and health insurance premium surtax.

     b.    The department shall make public and report its findings and recommendations to the Governor, and to the Legislature pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), of the study conducted pursuant to this section no later than 120 days following the effective date of this act.

 

     2.    This act shall take effect immediately.