ASSEMBLY FINANCIAL INSTITUTIONS AND INSURANCE COMMITTEE

STATEMENT TO

ASSEMBLY, No. 2550

with committee amendments

STATE OF NEW JERSEY

DATED:  FEBRUARY 12, 2026

      The Assembly Financial Institutions and Insurance Committee reports favorably and with committee amendments Assembly Bill No. 2550.

      As amended, this bill requires health insurers (health, hospital and medical service corporations, commercial group health insurers; health maintenance organizations, and health benefits plans issued pursuant to the Individual Health Coverage Program and the Small Employer Health Benefits Program) and group health plans that provide dependent coverage of children to continue to make that coverage available for adult children who are 26 years of age or older if the child is:

      (1)  incapable of self-sustaining employment by reason of physical or intellectual disability; and

      (2)  is chiefly dependent upon the subscriber for support and maintenance.

      This bill was prefiled for introduction in the 2026-2027 session pending technical review.  As reported, the bill includes the changes required by technical review, which has been performed.

COMMITTEE AMENDMENTS:

      The committee amended the bill to ensure that the bill applies to all policies and contracts delivered, issued, executed, or renewed on or after the effective date.