This bill requires that all health insurance contracts and plans in New Jersey, including those for individual and group health insurance, provide coverage for biomarker precision medical testing. This testing involves analyzing tissue, blood, or other biospecimens to identify biomarkers that can inform treatment decisions for various diseases, excluding asymptomatic screening. Coverage is mandated when the testing's efficacy is supported by FDA-approved indications, Medicare guidelines, or nationally recognized clinical practice guidelines. The bill also emphasizes minimizing disruptions to patient care, such as limiting the need for multiple biopsies, and ensures that the benefits for biomarker testing are equivalent to those for other medical conditions.

Furthermore, the bill mandates that Medicaid recipients receive biomarker precision medical testing without any cost-sharing. It outlines requirements for utilization review processes, ensuring that individuals and their healthcare providers have access to clear information regarding appeals for adverse determinations. The bill also defines key terms related to biomarker precision medical testing and emphasizes the importance of objective measurement in evaluating biological responses to treatments. The provisions will take effect 90 days after enactment and will apply to policies and contracts issued or renewed thereafter.