Prohibits health insurance carriers from making certain changes to contract with network providers during term of contract.

This bill prohibits New Jersey health insurance carriers from reducing reimbursement rates for network providers during the term of existing contracts. It directly affects insurance companies and healthcare providers who have signed contracts with these insurers. The key provision prevents carriers from unilaterally lowering payments to providers for the duration of their agreements. The law takes effect on the first day of the third month following enactment and applies to all new or renewed contracts after that date.