New Jersey S1300 establishes a loan program for entities offering health benefits plans facing insolvency due to COVID-19.

New Jersey S1300 establishes a loan program within the Department of Treasury for entities offering health benefits plans that are facing insolvency due to the COVID-19 pandemic. The State Treasurer is required to evaluate applications and provide loans to entities likely to face insolvency without financial assistance. These loans are capped at the amount needed to avoid insolvency, with no interest or fees charged. The State Treasurer can extend loan terms or forgive repayment if necessary for the entity's continued solvency.

New Jersey S1300 establishes a loan program for entities offering health benefits plans facing insolvency due to COVID-19.

New Jersey S1300 establishes a loan program within the Department of Treasury for entities offering health benefits plans that are facing insolvency due to the COVID-19 pandemic. The State Treasurer is required to evaluate applications and provide loans to entities likely to face insolvency without financial assistance. These loans are capped at the amount needed to avoid insolvency, with no interest or fees charged. The State Treasurer can extend loan terms or forgive repayment if necessary for the entity's continued solvency.