New Jersey A1824 mandates health insurance carriers to offer electronic fund transfers for reimbursing covered persons.
New Jersey A1824 requires health insurance carriers to make electronic fund transfers available for reimbursing covered persons. Carriers must include notifications in their health benefits plans about any fees associated with electronic fund transfers and provide instructions on their websites for selecting this payment method. Violations may be enforced by the Department of Banking and Insurance, which can impose civil penalties and order carriers to reimburse individuals for any fees incurred due to violations.
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