Requires availability of electronic fund transfers by health insurance carriers to reimburse covered persons.

This bill (A5188) requires New Jersey health insurance carriers to offer electronic fund transfers (EFT) as an option for reimbursing covered persons for eligible medical costs. It mandates carriers to notify policyholders about any fees for EFT and provide website instructions to enroll in EFT. The law applies to standard health plans (excluding Medicare Supplement, Medicaid, and workers' compensation) and targets carriers directly. Violations can result in enforcement by the Department of Banking and Insurance, including civil penalties and reimbursement of fees paid by consumers.