This bill requires that all health insurance policies and contracts in New Jersey, including those from hospital service corporations, medical service corporations, health service corporations, and individual and group health insurance policies, provide coverage for biomarker precision medical testing. This testing involves analyzing tissue, blood, or other biospecimens to identify biomarkers that can assist in the diagnosis, treatment, management, or monitoring of diseases, excluding asymptomatic screening. Coverage is contingent upon the testing's efficacy and appropriateness being recognized by established standards, such as FDA approvals and clinical practice guidelines. The bill also mandates that coverage for biomarker testing must be equivalent to that of other medical conditions, including copayment, deductible, and coinsurance provisions.

Furthermore, the bill ensures that Medicaid recipients receive biomarker precision medical testing without cost-sharing and emphasizes minimizing disruptions in patient care, such as avoiding unnecessary biopsies. It requires that if a third-party entity is contracted to provide these testing services, they must maintain the same scope and frequency of testing as the Medicaid program. The bill also stipulates that clear information regarding the appeals process for adverse determinations must be accessible to both patients and healthcare providers. The act will take effect 90 days after enactment and will apply to policies and contracts issued or renewed thereafter.