ASSEMBLY FINANCIAL INSTITUTIONS AND INSURANCE COMMITTEE

STATEMENT TO

ASSEMBLY, No. 2481

STATE OF NEW JERSEY

DATED:  SEPTEMBER 12, 2024

      The Assembly Financial Institutions and Insurance Committee reports favorably Assembly Bill No. 2481.

This bill prohibits any insurer from charging a fee to furnish tangible printed or paper bills or notices, with respect to any insurance policy, to an insured or other owner of that policy.  Insurance policies referred to under the bill include automobile insurance policies, homeowners policies, individual life and health insurance policies.  In addition, the bill prohibits the State Health Benefits Commission and School Employees’ Health Benefits Commission from charging a fee to furnish tangible printed or paper bills or notices to any member of the State Health Benefits Program or the School Employees’ Health Benefits Program.

      The bill provides that an insured, or other owner of the policy, will not be charged an additional fee if the insured or other owner of the policy elects to receive tangible printed or paper bills or notices in place of digital access to the same. The bill does not prohibit an insurer from offering a discount, credit, or other incentive to an insured for selecting a specific billing, payment, or notification option.

      This bill was prefiled for introduction in the 2024-2025 session pending technical review.  As reported, the bill includes the changes required by technical review, which has been performed.