New Jersey Statutes 17:48E-35.28. Health service corporation, high deductible, deductible inapplicable, certain circumstances
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 17:48E-35.28
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
3. Notwithstanding the provisions of section 1 of P.L.1995, c.316 (C. 17:48E-35.10) regarding deductibles for a high deductible health plan, a contract offered by a health service corporation providing hospital or medical expense benefits for groups with greater than 50 persons, that qualifies as a high deductible health plan for which qualified medical expenses are paid using a health savings account established pursuant to section 223 of the federal Internal Revenue Code of 1986 (26 U.S.C. § 223), and that is delivered, issued, executed or renewed in this State, or approved for issuance or renewal in this State by the Commissioner of Banking and Insurance on or after the effective date of P.L.2005, c.248 (C. 17:48E-35.27 et al.), shall not apply a deductible for any benefits for which a deductible is not applicable pursuant to any law enacted after the effective date of P.L.2005, c.248 (C. 17:48E-35.27 et al.).
This section shall apply to all health service corporation contracts in which the health service corporation has reserved the right to change the premium.
L.2005,c.248,s.3.