12:20 PM

Individual Premiums Are Lower in 2019, Thanks to Bold Leadership in Trenton


Annual increases to health insurance premiums have become the norm throughout America. And while increases in New Jersey have historically been the lowest of any state, uncertainty around the future of the Affordable Care Act threatened to deliver double digit premium increases for the second straight year in New Jersey. Thanks to real leadership from Governor Phil Murphy, State Senator Joe Vitale and other forward-thinking lawmakers, that will not be happening.

By Kevin Conlin, Chief Executive Officer & President 

By taking bold steps to control costs and ensure that all New Jersey citizens can obtain adequate coverage, New Jersey leaders again set our state apart from the pack. Indeed, health insurance premiums for the individual market will drop an average of 9.2 percent in 2019. Legislation championed by State Senator Joseph Vitale, passed by the New Jersey legislature and signed into law by Governor Phil Murphy deserves the credit.

 New Jersey leaders again set our state apart from the pack.
Kevin Conlin

One of the laws requires everyone in the state to purchase health insurance in much the same way drivers are required to purchase auto insurance. This requirement reduces costs because it substantially increases the pool of insured individuals and spreads the costs of health care across the widest possible number of people. Lower costs mean more individuals can afford to pay for health insurance that helps them get the care they need.

A second law brings much needed stability and predictability to the individual market. By establishing a reinsurance program that will partially cover the most expensive health care claims, that law will lower costs for individual policyholders even further. At Horizon, these savings are translating into lower premiums for our members. By tapping into a combination of state and federal dollars, as well as penalties paid by individuals who don’t purchase health insurance, this new program didn’t result in higher taxes or new fees.

Our state government officials have moved decisively to stabilize the marketplace, ensuring that everyone will have access to quality, affordable health insurance – in 2019 and well into the future. Their work is freeing up resources here at Horizon so that we can further our long-standing mission to operate for the benefit of our 3.8 million customers through lower costs, higher quality of health care and a better patient experience.

We owe Senator Vitale, Governor Murphy and all who supported this legislation our thanks. Every New Jerseyan deserves access to high quality, affordable health care. These leaders are helping make that happen.