Establishes Commission on Insurance Reimbursement.

This bill establishes 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 with modifiers). It evaluates whether proposed rate cuts would limit patient access to care, destabilize the healthcare system, or harm licensed providers or facilities, and must consider input from affected healthcare providers. The commission must issue a final decision within 60 days and submit annual reports to the Governor and Legislature. This directly affects insurance carriers (requiring pre-approval for rate cuts), healthcare providers (whose payments may be reviewed), and patients (whose care access is protected through the review process).