New Jersey Assembly Bill A2481

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24
• Report Pass: 9/12/24

Caption

Prohibits insurers, SHBP, and SEHBP from charging fee for paper bills and notices.

Impact

The enactment of A2481 would have significant implications for the insurance industry in New Jersey. By outlawing fees for paper statements, the bill fortifies the rights of policyholders, ensuring that all consumers have the option to receive necessary documentation without incurring additional costs. This legislative measure aims at enhancing consumer protection and promoting transparency in insurance practices, potentially improving overall customer satisfaction and trust in insurance providers.

Summary

Assembly Bill A2481 seeks to reform insurance billing practices in New Jersey by prohibiting insurers from charging fees for tangible printed or paper bills and notices. This applies to all insurance policies, including automobile, homeowners, life, and health insurance. The bill responds to concerns that such fees disproportionately affect individuals who may prefer, or need, physical copies of their documents for various reasons, including accessibility and personal preference for tangible communication.

Contention

Points of contention regarding this bill may arise from insurance companies concerned about the financial implications of losing this revenue stream. While the bill includes a provision that allows insurers to offer discounts or incentives for choosing electronic communication methods, it could still face pushback from the industry regarding their operational costs and the feasibility of adjustments in billing practices. Balancing consumer rights with business interests is expected to be a focal topic during discussions surrounding A2481 as it moves through the legislative process.