Bill > S967

This bill requires the Commissioner of Banking and Insurance (DOBI) to provide compensation to members of self-funded multiple employer welfare arrangements (MEWAs) under specific circumstances, offering a financial safety net when these arrangements face financial difficulties. A MEWA is a type of employee benefit plan that provides health benefits to employees of multiple employers, and in this case, it is "self-funded," meaning it is not insured by a traditional insurance company. The bill mandates that if a court orders the rehabilitation, liquidation, conservation, or dissolution of a MEWA and assesses its members to cover outstanding and projected claims, DOBI will compensate those members for 60% of the assessed amount. This compensation is contingent upon the court determining that the MEWA's financial distress was not caused by mismanagement. To make this determination, the court must consider external factors beyond the MEWA's control, such as epidemics, pandemics, or natural or human-made disasters, providing a crucial context for assessing blame and offering relief.

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https://www.njleg.state.nj.us/bill-search/2026/S967