Alert! Alert! New Jersey's 1332 waiver request to institute a reinsurance program has been approved! According to various studies revolving this waiver- early evidence stipulates that this could lead up to a 15% decrease in premiums for people insured in NJ's individual market. The reinsurance fund that governor murphy signed created the "New Jersey Health Insurance Premium Security Fund" (of which is CMS approved). Alone, the fund is estimated to be $275 million (half of which will be funded by the Federal Government). This is great for individuals insured under the ACA! This fund will help those individuals pay the more catastrophic claims they collected.
If you have any questions about this alert feel free to contact us!