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Bill > A4705
NJ A4705
NJ A4705Increases annual assessment on net written premiums of HMOs from five percent to six percent.
summary
Introduced
06/26/2024
06/26/2024
In Committee
06/26/2024
06/26/2024
Crossed Over
06/28/2024
06/28/2024
Passed
06/28/2024
06/28/2024
Dead
Signed/Enacted/Adopted
06/28/2024
06/28/2024
Introduced Session
2024-2025 Regular Session
Bill Summary
An Act concerning the annual assessment on health maintenance organizations and amending P.L.2004, c.49.
AI Summary
This bill increases the annual assessment on the net written premiums of Health Maintenance Organizations (HMOs) in New Jersey from five percent to six percent. The assessment is allocated to the Health Care Subsidy Fund, which is used to provide charity care payments to hospitals. The bill also prohibits HMOs from passing on the assessment to their customers through increased premiums, fees, or surcharges, with the exception of federally funded programs. The bill takes effect immediately and applies to assessments made for Fiscal Year 2025 and thereafter.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Approved P.L.2024, c.21. (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/A4705 |
| BillText | https://pub.njleg.gov/Bills/2024/PL24/21_.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/AL24/21_.HTM |
| Fiscal Note - Fiscal Estimate 7/15/24; as introduced | https://pub.njleg.gov/Bills/2024/A5000/4705_E1.PDF |
| BillText | https://pub.njleg.gov/Bills/2024/A5000/4705_I1.HTM |
| Analysis - Statement ABU 6/26/24 | https://pub.njleg.gov/Bills/2024/A5000/4705_S1.PDF |
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