The "Consumer Freedom From Unwanted Expense in Health Insurance Coverage Act" aims to empower New Jersey residents by granting them the right to purchase health insurance policies from foreign health insurers, which are defined as insurers licensed to sell individual health benefits plans in other states. This legislation ensures that, despite any existing laws or regulations, residents can access these policies, thereby expanding their options for health insurance coverage.

Additionally, the bill allows employers to reimburse their employees for the costs associated with health insurance coverage purchased under this act. It also clarifies that obtaining such coverage will fulfill any legal requirements for individuals to maintain health insurance, as mandated by relevant authorities. The act is set to take effect 90 days after its enactment.