New Jersey A2493 mandates health insurance carriers to offer clear cost share plans for individual health benefits plans.

New Jersey A2493 requires the commissioner to develop clear cost share plans for individual health benefits plans, focusing on standardized benefits and cost-sharing. These plans must consider actuarial value ranges, consumer choice, out-of-pocket costs, and quality improvement. Carriers can offer modified plans if approved by the commissioner. The commissioner will evaluate plans annually, considering medical inflation and actuarial values, with a 60-day public comment period. The bill applies to plans issued on or after January 1, 2023.

New Jersey A2493 mandates health insurance carriers to offer clear cost share plans for individual health benefits plans.

New Jersey A2493 requires the commissioner to develop clear cost share plans for individual health benefits plans, focusing on standardized benefits and cost-sharing. These plans must consider actuarial value ranges, consumer choice, out-of-pocket costs, and quality improvement. Carriers can offer modified plans if approved by the commissioner. The commissioner will evaluate plans annually, considering medical inflation and actuarial values, with a 60-day public comment period. The bill applies to plans issued on or after January 1, 2023.