New Jersey Gov. Phil Murphy (Edwin J. Torres/Governor’s Office)TRENTON - New Jersey Democratic Gov.
Phil Murphy signed legislation Friday that will impose a tax on state health insurance plans after a federal levy expires and use those funds to reduce costs for residents.The measure narrowly passed the Democrat-led Legislature this week in the face of Republican opposition.
Murphy said in a statement the bill is aimed at restoring a key provision of the Affordable Care Act, also known as Obamacare, that is set to expire this year.“This action could not come at a more critical juncture, and will directly benefit our uninsured and underinsured populations at a time when many New Jerseyans have lost health coverage as a result of the COVID-19.