Bill > A3953

This bill, known as the "New Jersey Health Insurance Marketplace Act," establishes a state-run health insurance marketplace to comply with the federal "Patient Protection and Affordable Care Act" (ACA) and aims to reduce the number of uninsured New Jerseyans by providing a transparent platform for purchasing affordable health coverage, accessing federal tax credits and subsidies, and meeting individual responsibility requirements. The marketplace will be governed by a ten-member board of directors and will be an independent entity within the Department of Banking and Insurance, tasked with certifying qualified health benefits plans, establishing a State Business Health Options Program (SHOP) for small employers, and implementing operational plans that include procedures for enrollment, plan selection, customer service, and public outreach. The act also defines key terms like "carrier" (an entity providing health benefits plans), "enrollee" (a person covered through the marketplace), and "qualified health benefits plan" (a plan certified by the marketplace), and establishes a trust fund to support the marketplace's administrative and operational expenses, funded by surcharges on plans and assessments on carriers. Furthermore, the bill mandates reporting requirements to the Governor and Legislature, outlines the commissioner's role in evaluating existing health coverage programs, and sets forth the effective date and necessary administrative actions for implementation.