NJ Division of Banking and Insurance coverage Broadcasts Abortion Protection Necessities for 2023 Plan 12 months


NJ Division of Banking and Insurance coverage Broadcasts Abortion Protection Necessities for 2023 Plan 12 months

TRENTON – Following votes by the boards of each the Particular person Well being Protection Program and the Small Employer Well being Advantages Program, the New Jersey Division of Banking and Insurance coverage in the present day introduced that necessities for complete abortion protection amongst insurers within the particular person and small employer markets will take impact for the beginning of the 2023 plan 12 months on January 1, 2023.

The division issued a examine final month that discovered a necessity for regulatory motion to require protection for abortion providers with out exceptions beneath well being advantages plans regulated by the division. The examine was carried out as a part of the implementation of the historic Freedom of Reproductive Selection Act signed by Governor Phil Murphy earlier this 12 months.

On the division’s request, the Particular person Well being Protection Program and the Small Employer Well being Advantages Program boards started the method final month to implement protection adjustments and the boards voted unanimously yesterday to formally settle for the adjustments.

The division is grateful for the boards’ motion to implement these necessary measures in time for the start of plan 12 months 2023,” mentioned Commissioner Marlene Caride.  “Adoption of those adjustments will scale back boundaries and broaden entry to complete reproductive well being care within the new 12 months.”

The division regulates the person market, which incorporates plans supplied by means of Get Coated New Jersey, the State’s official Well being Insurance coverage Market, and off {the marketplace}, the small employer market, and the massive employer market. The adjustments accepted by the boards will have an effect on the person and small employer markets. The requirement would take impact within the massive employer market after the principles course of beneath the Administrative Process Act is accomplished in 2023.

As a part of its examine pursuant to the Freedom of Reproductive Selection Act, the division requested particular info and carried out an evaluation of accessible knowledge on the associated fee and doable impacts to insurance coverage protection if protection for abortion was required within the regulated markets. Carriers within the particular person and small employer markets in New Jersey have been requested to supply the impression of protecting abortion with out exception as a part of their 2023 fee filings.  Carriers estimated a spread of zero impression to .1% of premium.  Subsequently, enacting an abortion protection requirement wouldn’t be anticipated to materially impression insurance coverage charges within the regulated markets.

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