Bill > A6034

Introduced Session

This bill requires DOBI to provide compensation to members of self-funded multiple employer welfare arrangements (MEWAs) under certain circumstances. Under the bill, the Commissioner of Banking and Insurance will be required to compensate MEWA members 60 percent of the value of any assessment imposed by the State Superior Court to pay any incurred but unpaid claims and projected claims, if the court determines that the rehabilitation, liquidation, conservation or dissolution of the MEWA is not due to the mismanagement of the MEWA itself. In making a determination of whether the MEWA's liquidation, conservation, rehabilitation or dissolution is not due to the MEWA's own mismanagement, the court shall consider the impact of factors beyond the MEWA's control, including, but not limited to, an epidemic or pandemic or a natural or human-made disaster or emergency.

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Jon Bramnick (R)*, 

Introduced, Referred to Assembly Financial Institutions and Insurance Committee (on 11/15/2021)