Establishes Commission on Insurance Reimbursement.

This bill creates the Commission on Insurance Reimbursement within New Jersey's Department of Banking and Insurance. It requires health insurance carriers to get the Commission's approval before reducing payments for certain medical services (like office visits or procedures), ensuring proposed cuts won't limit patient access to care or harm providers. The Commission, made up of medical experts, hospital representatives, health plan leaders, and patient advocates, reviews applications detailing the proposed cut, its justification, and potential impact on patients and providers. They must issue a final decision within 60 days and report annually to the Governor and Legislature. This directly affects insurers, doctors, hospitals, and patients receiving health care covered by insurance plans.