New Jersey Governor Chris Christie has vetoed a bill that would have created a health insurance exchange for New Jersey under the healthcare reform law. The Governor cited uncertainty over what such an exchange will cost the state and over what kind of flexibility New Jersey will have in managing it.
In a statement Christie said, "I will not ask New Jerseyans to commit today to a state-based
exchange when the federal government cannot tell us what it will cost, how that cost compares to other options, and how much control they will give the states over this option that comes at the cost of our state's taxpayers."
New Jersey joined 18 other states in rejecting a measure to create state-based health insurance markets where consumers could purchase private, federally subsidized coverage. The states have until December 14 to decide whether to establish a state-based exchange. They can also partner with the federal government or let the federal government run the state exchange. Some 18 states have said they will create their own state-based exchanges and another 18 plan to default to a federal exchange.
For more information on Exchanges, visit: http://www.healthcare.gov/exchanges. Should you have questions about this or any aspect of healthcare reform, contact your Conner Strong & Buckelew account representative toll free at 1-877-861-3220. For a complete list of Legislative Updates issued by Conner Strong & Buckelew, visit our online Resource Center.