New Jersey will move away from the federal insurance marketplace and transition to a state health insurance exchange in 2021, Governor Phil Murphy announced last week.
The Democratic governor positioned the move as a way to protect his state from ongoing federal efforts to undermine the Affordable Care Act. By reinforcing key principles of the law at the state level, New Jersey will be able to maintain consumer protections and tackle affordability concerns more effectively.
New Jersey has already made several efforts to strengthen its insurance marketplace and reduce premiums for consumers. The state has implemented an individual coverage requirement and established a reinsurance program in 2018.