This bill proposes the repeal of the New Jersey Health Insurance Market Preservation Act, which mandates that most individuals maintain minimum essential health insurance coverage or face a penalty. The existing law requires all resident taxpayers to obtain health insurance that qualifies as minimum essential coverage, and this bill seeks to eliminate that requirement entirely.

Additionally, the bill amends the funding provisions for the New Jersey Health Insurance Premium Security Fund by removing the source of funding that comes from penalties collected from individuals who do not meet the minimum essential coverage requirement. The bill includes various amendments to existing laws, such as clarifying definitions and adjusting the operational framework of the New Jersey Easy Enrollment Health Insurance Program, but the primary focus remains on repealing the health insurance coverage mandate and its associated penalties.

Statutes affected:
Introduced: 17B:27A-10.10, 17B:27A-59.1, 17B:27A-59.2, 17B:27A-59.6