New Jersey Individual Mandate

New Jersey became the second state to enact its own individual mandate penalty. On May 30, 2018, New Jersey Gov. Phil Murphy signed two bills into law that are designed to stabilize and reduce health insurance premiums in the individual market.

These new laws are among the first state laws passed in response to changes made to the federal ACA. New Jersey is only the second state to enact its own health insurance individual mandate.

To help administer the individual mandate penalty, the New Jersey Health Insurance Market Preservation Act imposes a reporting requirement on every entity that provides MEC to an individual during a calendar year, similar to the ACA’s reporting requirement under Internal Revenue Code Section 6055.

Refer to the below bulletin for additional information and contact your NEEBCo representative with questions.

New Jersey Enacts State Individual Mandate and Reinsurance Program