All Roll Calls
Yes: 110 • No: 0
New JerseyS2875220th Legislature (2024-2025)SenateWALLET
Makes certain changes to calculation of minimum loss ratio requirements for health benefits plans in individual and small employer markets.
Sponsored By: Mitchelle Drulis (Democratic), Roy Freiman (Democratic), Pou, Nellie, Shanique Speight (Democratic)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 0 costs, 2 mixed.
New rebate math for individual health plans
Beginning September 6, 2024, New Jersey insurers use revised rebate calculations for covered individual health plans. They count the measured year and two prior years, including claims processed through the next year's first quarter. The minimum stays at 80% of premiums spent on benefits across the covered group, not for each policyholder. Insurers that fall short must make up the gap through dividends or premium credits by December 31 of the following year. The revised calculation affects whether policyholders receive money and how much.
New health rebate rules for small employers
Beginning September 6, 2024, New Jersey insurers use revised rebate calculations for covered small-employer health plans. They count the measured year and two prior years, including claims processed through the next year's first quarter. The minimum stays at 80% of premiums spent on benefits across the covered group, not for each policyholder. Insurers that fall short must make up the gap through dividends or premium credits by December 31 of the following year. For Small Employer Purchasing Alliance plans, insurers can calculate all alliances together or each separately, affecting rebate eligibility and amounts.
Sponsors & Cosponsors
Sponsors
Mitchelle Drulis
Democratic • House
Roy Freiman
Democratic • House
Pou, Nellie
Affiliation unavailable
Shanique Speight
Democratic • House
Cosponsors
Rosaura Bagolie
Democratic • House
Robert D. Clifton
Republican • House
Sumter, Shavonda E.
Affiliation unavailable
Roll Call Votes
House vote • 6/28/2024
3RDG FINAL PASSAGE
Yes: 72 • No: 0
Senate vote • 6/28/2024
3RDG FINAL PASSAGE
Yes: 38 • No: 0
Actions Timeline
Approved by Governor — P.L.2024, c.62.
9/6/2024GovernorPassed Assembly, PBH — (72-0-0)
6/28/2024HouseSubstituted for A3972 (2R)
6/28/2024HouseReceived in Assembly, Without Reference, 2nd Reading in Assembly
6/28/2024HousePassed Senate — (38-0)
6/28/2024SenateREP/SCA, 2nd Reading in Senate
6/24/2024SenateRCM Senate Budget and Appropriations Committee
6/24/2024SenateSA, 2nd Reading in Senate — (Voice) (Ruiz)
5/20/2024SenateREP/SCA, 2nd Reading in Senate
5/13/2024SenateIntroduced, 1st Reading in Senate, Referred to Senate Commerce Committee
3/4/2024Senate
Bill Text
Version PL2024
9/30/2024
Version AL2024
9/13/2024
Senate Budget and Appropriations (6/24/24 3R)
7/3/2024
Senate Budget and Appropriations Substitute (6/24/24 2R)
6/25/2024
Senate 5/20/24 1R
5/21/2024
Senate 5/20/24 2R
5/21/2024
Senate Commerce (5/13/24 1R)
5/14/2024
Senate Commerce Substitute (5/13/24)
5/14/2024
As Introduced
3/5/2024
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