Repeals requirement that individuals maintain minimum essential health insurance coverage.

This bill repeals New Jersey's requirement that most residents maintain minimum essential health insurance coverage. It removes both the coverage mandate and the penalty for not having coverage, which was previously enforced through state tax filings. The repeal also eliminates a funding source for the state's Health Insurance Premium Security Fund that relied on penalties collected from non-compliant residents. This directly affects all New Jersey residents who would have been subject to the penalty under prior law.