Overview
STATE BUDGET
New Jersey operates on an annual budget cycle. The governor submits a proposed budget in February and the legislature adopts a budget in June. The fiscal year begins July 1.
STATE LEGISLATURE
The state Legislature consists of a Senate with 40 members serving four-year terms, except in the first term of a new decade (which only lasts two years), and 80 members of the General Assembly serving two-year terms. The two-year legislative term begins at noon on the second Tuesday in January of each even-numbered year. New Jersey is one of only two states that carry over legislation from even years to odd years (Virginia is the other).
KEY RESOURCES
- New Jersey Legislature
- New Jersey Office of the Attorney General
- New Jersey Governor
- New Jersey Department of Banking & Insurance
- NJ Hospital Price Compare
- New Jersey Prescription Drug Retail Price Registry
- New Jersey Office of Management and Budget
2025 LEGISLATIVE SUMMARY
New Jersey introduced several bills. A382 would require providers to disclose network status to patients, and get written consent if out of network. S4386, A5708, and S4385 would prohibit and void noncompete agreements and no poach agreements with exceptions for senior executives. A1819 and S4068 would void noncompete agreements for physicians and nurses with limited exceptions.
New Jersey Laws
N.J. Admin. Code § 11:24C- 4.3(c)(2). Provider Agreements: Provider Networks – New Jersey
Introduced: Status: Enacted
Regulation of most favored nation clauses in managed care plans.
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N.J. Rev. Stat § 17:48E-42. For-profit corporations excluded: Health Service Corporations – New Jersey
Introduced: Status: Enacted
States that this chapter does not apply to any corporation carrying on the business of life, health or accident insurance. Also, a health service corporation authorized to transact business pursuant to this act shall be […]
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N.J. Rev. Stat. § 17:27A-2. Acquisition of control of or merger with domestic insurer: Insurance Holding Company Systems – New Jersey
Introduced: Status: Enacted
Allows the commissioner to deny a merger or acquisition if the effect would tend to create a monopoly.
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N.J. Rev. Stat. § 17:27A-4.1. Definitions, regulations concerning acquisitions: Insurance Holding Company Systems – New Jersey
Introduced: Status: Enacted
Establishes that the commissioner may take certain actions to prevent activities that favor monopolies or lessen competition.
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N.J. Rev. Stat. § 17:29A-29. Advisory organizations; requirements; unfair practices: Rates– Makers of Rates–Licenses – New Jersey
Introduced: Status: Enacted
Every group, association or other organization of insurers, whether located within or outside this State, which assists insurers which make their own filings or rating organizations, in rate making, by the collection and furnishing of […]
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