Bill
Bill > A3972
NJ A3972
Makes certain changes to calculation of minimum loss ratio requirements for health benefits plans in individual and small employer markets.
summary
Introduced
03/04/2024
03/04/2024
In Committee
06/13/2024
06/13/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
Makes certain changes to calculation of minimum loss ratio requirements for health benefits plans in individual and small employer markets.
AI Summary
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 the minimum loss ratio to be calculated based on a three-year rolling average, rather than a single year. It also provides additional details on how the minimum loss ratio should be calculated, including adjustments for certain government programs and exclusions for new or increased taxes and assessments. These changes are intended to provide more stability and consistency in the minimum loss ratio requirements for these health plans.
Committee Categories
Business and Industry
Sponsors (6)
Mitchelle Drulis (D)*,
Roy Freiman (D)*,
Shanique Speight (D)*,
Rosaura Bagolie (D),
Rob Clifton (R),
Shavonda Sumter (D),
Last Action
Substituted by S2875 (3R) (on 06/28/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/A3972 |
| BillText | https://pub.njleg.gov/Bills/2024/A4000/3972_R2.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/A4000/3972_R1a.HTM |
| Analysis - Statement AFI 6/13/24 1R | https://pub.njleg.gov/Bills/2024/A4000/3972_S2.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A4000/3972_R1.HTM |
| Analysis - Statement AHE 3/14/24 | https://pub.njleg.gov/Bills/2024/A4000/3972_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A4000/3972_I1.HTM |
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