Title: Requires Health Insurance Carriers to Offer Cost Share Plans for Individuals
Vote to require health insurance carriers to offer clear cost share plans for individual health plans.
Requires the advisory committee to develop a cost-share plan for individual health benefits plans that provide for standardized benefits and cost-sharing for covered health services (Sec. 1).
Requires the clear-cost share plan to consider the following (Sec. 1):
The ability of a health plan to conform to actuarial value ranges;
Focusing consumer choice to make the process of selecting a health plan more transparent and quality-based;
Limiting out-of-pocket costs that serve as a financial barrier to accessing high-value care; and
Fostering quality improvement through the promotion of benefits with a high value and a focus on the consumer.
Requires the commissioner to submit an annual report to the Governor concerning the number of consumers enrolling in a clear-cost share plan compared to other health plans (Sec. 1).
Authorizes the Department of Banking and Insurance to have the authority to operate a State-based exchange and coordinate the operation of the exchange with the operations of the New Jersey Small Employer Health Benefits Program (Sec. 2A).
Requires the Commissioner of Human Services to submit a proposal for available federal financial participation funds to the Centers for Medicare and Medicaid Services of the U.S. Department of Health and Human Services (Sec. 2B).
Authorizes the Commissioner of Banking and Insurance to require that plans offered on the exchange conform with standardized plan designs that provide for standardized cost-sharing for covered health services (Sec. 2C).
Title: Requires Health Insurance Carriers to Offer Cost Share Plans for Individuals