Earlier today, the New Jersey Assembly and Senate passed S2676/A4389, which would establish a state-level Health Insurance Assessment (HIA). With a state-level HIA, New Jersey will raise over $200 million in annual revenue — at no new cost to insurance companies — to invest in initiatives to make health care more affordable in the state’s new health care exchange. In response to the passage of this bill, New Jersey Policy Perspective (NJPP) releases the following statement.
Brittany Holom, Senior Policy Analyst, New Jersey Policy Perspective:
“With the passage of this bill, New Jersey is solidifying itself as a national leader in protecting the Affordable Care Act and keeping health coverage affordable. The Health Insurance Assessment will provide ample resources for New Jersey to expand health coverage, lower the number of people who are uninsured, and address racial disparities in access to care. These are necessary steps to build a stronger and more equitable state where all residents can lead healthy lives. If the COVID-19 pandemic has taught us anything, it’s that improving access to care will improve public health for all. We sincerely thank Senator Joe Vitale and Assemblyman John McKeon for their leadership on this critical issue.”
For more information on the state-level HIA, read NJPP’s explainer: New Jersey Can Act Now to Make Health Care More Affordable: The Health Insurance Assessment Explained
New Jersey Policy Perspective (NJPP) is a nonpartisan think tank that drives policy change to advance economic, social, and racial justice through evidence-based, independent research, analysis, and advocacy.
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