NJ S967

Requires the Commissioner of Banking and Insurance to compensate members of self-funded multiple employer welfare arrangements (MEWAs) 60% of any court-ordered assessment to pay incurred but unpaid claims and projected claims during rehabilitation, liquidation, conservation, or dissolution proceedings.

Compensation is only provided if the court determines the MEWA's failure was not due to mismanagement of the arrangement itself.

Courts must consider factors beyond the MEWA's control when determining mismanagement, including epidemics, pandemics, or natural or human-made disasters and emergencies.

The bill applies retroactively to May 1, 2021.

Amends existing law (P.L.2001, c.352) governing self-funded MEWAs, which are health benefit arrangements not covered by state insurance guarantee funds.