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

This bill requires New Jersey health insurance companies (and their vendors) to offer electronic fund transfers (EFT) as a standard option for reimbursing policyholders for covered medical costs. It mandates that insurers notify policyholders about any fees for EFT and provide clear website instructions to select this payment method. Insurers violating these rules face enforcement by the Department of Banking and Insurance, including fines and orders to reimburse policyholders for any fees they incurred. The law applies to all health benefits plans (excluding Medicare Supplement, workers' comp, and similar coverage) for claims submitted after its effective date.