This bill requires that all health insurance contracts and individual health benefits plans in New Jersey, including those from hospital service corporations, medical service corporations, and health maintenance organizations, provide coverage for biomarker precision medical testing. This testing involves analyzing tissue, blood, or other biospecimens to identify biomarkers that can assist in diagnosing, treating, managing, or monitoring diseases, with the exception of asymptomatic screening. The bill mandates that coverage must minimize disruption to patient care, such as reducing the need for multiple biopsies, and that the efficacy of the testing must be recognized by established standards, including FDA approvals and clinical practice guidelines.

Furthermore, the bill ensures that expenses for biomarker precision medical testing for Medicaid recipients will be covered without cost-sharing. It emphasizes the need for clear communication regarding the appeals process for any adverse determinations related to testing. The provisions apply to all health benefits plans where the carrier has the right to change premiums, ensuring that biomarker testing is treated equally to other medical conditions in terms of coverage, copayment, deductible, and coinsurance. The act will take effect 90 days after enactment and will apply to policies and contracts issued or renewed thereafter.