Loading chat...
NJ A4705
Bill
Status
6/28/2024
Primary Sponsor
Carol Murphy
Click for details
AI Summary
-
Increases the annual assessment on net written premiums received by health maintenance organizations (HMOs) in New Jersey from five percent to six percent, effective fiscal year 2025 and thereafter
-
Assessment revenues are allocated to the Health Care Subsidy Fund to provide charity care payments to hospitals
-
HMOs are prohibited from imposing any additional premium, fee, or surcharge on enrollees to recoup the assessment, except for federally funded programs
-
Assessments are certified by the Commissioner of Banking and Insurance and remitted quarterly by HMOs
-
Approved June 28, 2024, with immediate effect applying to assessments for Fiscal Year 2025 and thereafter
Legislative Description
Increases annual assessment on net written premiums of HMOs from five percent to six percent.
Bills and Joint Resolutions Signed by the Governor
Last Action
Approved P.L.2024, c.21.
6/28/2024