New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 21 - SMALL EMPLOYER HEALTH BENEFITS PROGRAM
Subchapter 7 - PROGRAM COMPLIANCE
Section 11:21-7.4 - Limitations on purchase by small employers of health benefits plans with different actuarial value than existing plan
Current through Register Vol. 56, No. 6, March 18, 2024
(a) A small employer who purchases a health benefits plan pursuant to the Act shall not be permitted to purchase a health benefits plan with a greater actuarial value until the first anniversary date of the small employer's existing health benefits plan.
(b) When a small employer replaces a health benefits plan with a health benefits plan of greater actuarial value, the small employer shall not be permitted to change the health benefits plan to one of less actuarial value until the anniversary date of the small employer's health benefits plan.
(c) A small employer who has purchased a health benefits plan pursuant to the Act may purchase a health benefits plan of lesser actuarial value prior to the anniversary date of the existing health benefits plan, provided that the existing health benefits plan was purchased at least 12 months prior to the latest anniversary date of the health benefits plan.
