NEW JERSEY ENFORCES THE INDIVIDUAL MANDATE STARTING JANUARY 1, 2019

ƒƒ New Jersey is the second state after Vermont to enact an individual mandate, which becomes effective January 1, 2019.  The purpose of P.L. 2018, Chapter 31 is to stabilize the market and help keep health insurance premiums as low as possible.  The tax applies to all New Jersey residential taxpayers. Hardship exemptions shall be determined by the State Treasurer.  …

New Jersey mandates individual health insurance

Governor Phil Murphy has signed into law The New Jersey Health Insurance Market Preservation Act (the “Act”) making it the second state, after Massachusetts, requiring resident individuals to maintain health insurance coverage or face an individual shared responsibility payment. This law comes on the heels of The Tax Cuts and Jobs Act, signed by President Trump on December 22, 2017, …