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
In Committee
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)

Last Action

Substituted by S2875 (3R) (on 06/28/2024)

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