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  • NJ A1896
  • Requires health insurers to disclose broker commissions to purchasers.
Introduced
(1/27/2016)
In Committee
(1/27/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill requires insurers to disclose to the purchaser of the insurance, in writing at the time of sale, the amount of any commission the insurer pays the insurance producer for the sale of a health benefits plan. Current law places this obligation on the insurance producer to notify the insurance purchaser of any commission or other compensation that the producer receives in connection with the sale. The bill provides that if the commission is based on a percentage of the premium, the insurer may include that information in the notification to the purchaser. The bill provides that the commissioner of the Department of Banking and Insurance may specify, by regulation, the information that shall be provided by an insurer in the notification to a purchaser of health insurance and the procedure for providing the notification.
Financial Institutions and Insurance
Introduced, Referred to Assembly Financial Institutions and Insurance Committee  (on 1/27/2016)
 
 

Date Chamber Action Description
1/27/2016 A Introduced, Referred to Assembly Financial Institutions and Insurance Committee
Date Motion Yea Nay Other
None specified