Requires DOBI to provide compensation to members of self-funded multiple employer welfare arrangements under certain circumstances.

S 967 requires New Jersey's Commissioner of Banking and Insurance (DOBI) to compensate employers in self-funded health benefit groups (MEWAs) for 60% of costs they pay when the group becomes insolvent and a court determines the insolvency wasn't due to the group's mismanagement. The court must consider factors beyond the MEWA's control, such as pandemics or natural disasters, when making this determination. The bill also mandates that MEWAs provide clear notices to employers and employees explaining they are not covered by state insurance guarantee funds and must verify coverage for state-mandated benefits. This law applies retroactively from May 1, 2021.