This bill allows health insurers licensed in other states to provide individual health benefits plans and small employer health benefits plans to New Jersey residents and to employers in New Jersey under certain conditions and under the oversight of the Commissioner of Banking and Insurance.

In order to offer plans in the State, the foreign health insurer would have to offer these plans in its domiciliary state and otherwise be in compliance with all applicable laws in that state. In addition, the foreign health insurer must apply for and obtain a certificate of authority to do business as a foreign health insurer from the Commissioner of Banking and Insurance. The commissioner shall issue the certificate if the commissioner determines that the foreign health insurer meets certain conditions as specified in the bill.