17B:27A-33.2 Annual review, small-employer health benefits plans, publish findings, report, Department of Banking and Insurance website.
322 words·~1 min read·
/nj/title-17b/chapter-27a/17b-27a-33-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
8. a. The board shall annually review the small employer health benefits plans offered pursuant to P.L.1992, c.162 (C.17B:27A-17 et seq.) to ensure that each plan meets the requirements of section 2 of P.L.2019, c.354 (C.17B:27A-19.30), provides consumer choice and affordability, and maintains a relative level of consistency compared to previous years and to other plans in the small employer market. The board shall publish the findings of its review on the website of the Department of Banking and Insurance.
b. The board shall annually adjust the design of the small employer health benefits plans, including the out-of-pocket limits under those plans, to ensure premium affordability and to align the plans with the requirements of section 2 of P.L.2019, c.354 (C.17B:27A-19.30). The adjustment shall be based on the annual review conducted pursuant to subsection a. of this section. The board may consider proposals for adjustments to plan design to improve affordability from carriers offering small employer health benefits plans pursuant to P.L.1992, c.162 (C.17B:27A-17 et seq.).
c. The board shall annually review the appropriateness of geographic rating areas and may adjust, by rule, as needed to achieve the goals of this subsection.
d. The board shall examine and, to the extent practicable, track where small employers who do not continue coverage through a small employer health benefits plan offered pursuant to P.L.1992, c.162 (C.17B:27A-17 et seq.) elect to purchase coverage. The board shall have the authority to develop a sample survey that insurance producers shall provide to clients. Insurance producers shall report to the board all information received through the survey, which shall be de-identified by the insurance producer.
The sample survey shall include, but may not be limited to, information concerning where small employers purchase health benefits coverage. The board shall publish a report on the results of the surveys received from insurance producers pursuant to this subsection on the website of the Department of Banking and Insurance.
L.2023, c.194, s.8.