New Jersey A1450 mandates that the Commissioner of Banking and Insurance only approves managed care plan networks if they meet all requirements.

New Jersey A1450 amends existing law to ensure that the Commissioner of Banking and Insurance only approves the network adequacy of a managed care plan if the carrier demonstrates that the provider network meets all requirements without considering any health care provider in which the carrier has a financial interest. The bill defines "financial interest" as holding a position in a business as officer, director, trustee, or partner, or owning more than a five percent interest in a business, or ownership of a carrier and a health care provider by the same parent company.

New Jersey A1450 mandates that the Commissioner of Banking and Insurance only approves managed care plan networks if they meet all requirements.

New Jersey A1450 amends existing law to ensure that the Commissioner of Banking and Insurance only approves the network adequacy of a managed care plan if the carrier demonstrates that the provider network meets all requirements without considering any health care provider in which the carrier has a financial interest. The bill defines "financial interest" as holding a position in a business as officer, director, trustee, or partner, or owning more than a five percent interest in a business, or ownership of a carrier and a health care provider by the same parent company.