Requires annual assessment paid by mutual holding company to solely fund health care initiatives; establishes Healthcare Rate Stabilization and Improvements Organization.

This bill requires health insurance companies that have reorganized as mutual holding companies in New Jersey to pay annual assessments based on their premiums. The initial $600 million payment is one-time, followed by 17 annual payments totaling up to $1.25 billion (capped at $100 million, $25 million, and $50 million per year in different phases). All collected funds must be paid to a new nonprofit organization, the Healthcare Rate Stabilization and Improvements Organization (HRSIO), which will use them exclusively for healthcare initiatives benefiting policyholders - such as improving outcomes for infant mortality, diabetes, and veteran health - through targeted subaccounts for different coverage groups (e.g., Medicaid, small businesses, large employers). The HRSIO’s board includes government and industry representatives, and payments can be deferred if they would harm the company’s financial stability.