New Jersey votes to bring hack health insurance mandate

Trenton Murphycare may look much like Obamacare as NJ lawmakers vote for bring back the health insurance mandate. Gov. Phil Murphy was sent a bill by lawmakers requiring almost all New Jerseyan’s to buy health insurance or have to pay a penalty. This was a bid to help stabilize premiums for those consumers who are still in the Obamacare marketplace.

Another bill was approved which sets up a reinsurance plan to be paid in part by the federal government covering some of the health care claims that are the most expensive.

Trying to get to premiums costs using a 2-pronged attack as stated by Linda Schwimmer of a research and advocacy group. She is the president and chief executive officer for the NJ Health Care Quality Institute.

The mandate bill had passed in the Senate 23-13 and passed in the Assembly 50-23. Then the reinsurance bill passed in the Senate 22-14, then 46-22 in Assembly.

Consumers not getting insurance through Medicare or employers will be more directly affected. Approximately 275,000 people living in New Jersey had coverage in the individual market according to recently release federal data.

Efforts to protect the ACA (Affordable Care Act) when facing opposition from Trump’s administration and Congress using these steps taken by Democrat controlled Legislature.

As one of the largest fights in that New Jersey reinstates it’s so called individual mandate which requires most of the New Jerseyans to purchase insurance or have to pay the penalties. 2.5% of their household income /and/or/ $695 per adult as well as $347.50 per each child, which ever of these is greater.

As part of a tax reform law Trump’s administrations had eliminated the contiguous provision in 2019 turning attentions towards allowing states more flexibility in offering less expensive and comprehensive plans.

The bill being deliver to Murphy is written to penalize consumers purchasing plans which don’t include comprehensive benefits. New Jersey has long required the insurance companies to provide the essential benefits which mirror Obamacare such as hospitalization, preventive care, maternity care, correctional screening as a few examples.

Most consumers in New Jersey have incomes low enough when buying health insurance through the Obamacare marketplace will qualify for subsidies. If not, the price will be steeps, it costs approximately $23,000 per year for a 4-person family a left leaning research group, New Jersey Policy Perspective.

Funded by the federal government and insurance companies; the reinsurance bill creates a program paying for high cost patients keeping the new fund at the Treasury Department.