New Jersey Statutes 17B:26A-17. Definitions
Terms Used In New Jersey Statutes 17B:26A-17
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
“Carrier” means an insurance company or service corporation authorized to issue health benefits plans in this State.
“Financially impaired” means a carrier or health maintenance organization which, after the effective date of P.L.1995, c.229 (C. 17B:26A-12 et seq.), is not insolvent, but is deemed by the commissioner to be potentially unable to fulfill its contractual obligations, or a carrier or health maintenance organization which is under an order of rehabilitation or conservation by a court of competent jurisdiction.
“Health benefits plan” means a hospital and medical expense insurance policy; hospital service corporation contract, medical service corporation contract or health service corporation contract delivered or issued for delivery in this State.
“Newly eligible” means first eligible for Medicare benefits by reason of age or disability on or after January 1, 2020, in accordance with 42 U.S.C. § 426 or 426-1.
L.1995, c.229, s.6; amended 2019, c.139, s.4.