In 1992 New Jersey enacted two laws that give individual and New Jersey small employers health insurance access regardless of health status, risk factor, age or claims history. New Jersey health insurance is available through many sources, including the Marketplace or Exchange, independent insurers like newjersey-insurance.net, and via the basic and essential plan under the 1992 law.
When Affordable Care Act or Obamacare was made law each state began an insurance Marketplace or Exchange for those who were unable to obtain insurance via traditional routes including those who don’t have insurance via a spouse’s plan, are excluded for preexisting conditions, have private insurance but want an alternative and for those who own small businesses.
The Affordable Care Act is on top of the existing 1992 law ensuring insurance access to New Jersey residents who didn’t otherwise qualify. The basic and essential plan, (B&E), is available to single persons, adults and families. The plans may be purchased from a wide variety of insurance carriers and in an equally wide variety of options. The plans available are the indemnity plan, managed care plan and preferred provider organization. The plans are available from network- based providers using an exclusive provider organization.
The New Jersey health insurance law enacted in 1992 provides guaranteed coverage and renewability as long as your payments are made in a timely fashion. Carriers are not allowed to adjust rates based on your location within the state and are fixed for the calendar year. Furthermore starting January 1, 2014 no carrier can deny or limit anyone due to pre-existing conditions. The State of New Jersey regulates rates that can be charged on these policies under this law.
The most common way to obtain New Jersey health insurance is via private insurance. There are many companies who offer health insurance across the country. Many larger employers offer insurance at discounted rates and you may or may not opt in a spouse and family depending on the policies offered.
Due to the fact there are many different private carriers it is important to shop around when choosing New Jersey health insurance. You may shop for the best deductibles to limit your out of pocket expenses or shop for additional policies including dental and vision coverage. Many times private insurers sell bundles of insurance to include dental and vision but they are usually considered additional policies.
New Jersey health insurance is available through three sources for those who don’t qualify for Medicare and include the Marketplace or Exchange, the exclusive provider organization under the 1992 law providing insurance to all New Jersey residents or via private carriers.