Establishes Commission on Insurance Reimbursement.

This bill creates the Commission on Insurance Reimbursement within New Jersey's Department of Banking and Insurance. The commission reviews and approves or denies applications from health insurance carriers seeking to reduce payment rates for specific medical procedures (identified by CPT codes). Carriers must submit detailed justifications for proposed rate cuts, and the commission evaluates whether such cuts would interfere with patient access to care, destabilize the healthcare system, or harm licensed providers or facilities. The commission must issue a written decision within 60 days and annually report its findings and recommendations to the Governor and Legislature. This directly affects insurance carriers, healthcare providers, and patients by adding a review step before rate reductions take effect.