Establishes arbitration and notification process for health insurance carriers and provider networks when dispute arises over maintaining providers as in-network.

This New Jersey bill (A 1509) creates a binding arbitration process for disputes between health insurance companies (carriers) and healthcare providers (like doctors' offices or clinics) over payment rates. If negotiations fail, either party can trigger arbitration by submitting their final payment offer to the state Department of Banking and Insurance, with the arbitrator selecting one of the two offers. The bill requires carriers to notify patients 30 days before open enrollment if a provider will be out-of-network starting the next plan year, while ensuring continued in-network coverage and reimbursement until the new plan year begins. It directly affects health insurers, healthcare providers, and patients who rely on these networks for coverage.