Bill > S2875

This bill makes certain changes to the calculation of minimum loss ratio requirements for health benefits plans in the individual and small employer markets. Specifically, it requires carriers to return at least 80% of the aggregate premiums collected for all policy or contract forms in the previous calendar year, calculated based on a three-year rolling average. The bill also includes provisions for the distribution of dividends or credits to policyholders in cases where the loss ratio fails to comply with the 80% requirement. Additionally, the bill applies these changes to plans delivered, issued, executed, or renewed on or after the effective date of the act.

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https://www.njleg.state.nj.us/bill-search/2024/S2875