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

This bill requires New Jersey health insurance companies to offer electronic fund transfers (EFT) as a reimbursement option for covered persons (policyholders) who pay for health care out of pocket. Insurance carriers must inform policyholders about any fees for using EFT and provide website instructions for setting it up. Violations can result in fines from the Department of Banking and Insurance, plus reimbursement of any fees the policyholder paid due to the violation. The law applies to most health insurance plans but excludes Medicare Supplement, Medicaid, and other specific coverage types like workers' compensation.