This bill amends the New Jersey Medicaid program to mandate coverage for self-administered hormonal contraceptives, which include oral contraceptives, transdermal patches, and vaginal rings, that are dispensed by pharmacists under a "standing order." This standing order allows pharmacists to provide these contraceptives without requiring an individual prescription, thereby enhancing access for Medicaid beneficiaries. The legislation also ensures that payments for these services are made in full to providers and prohibits any charges to recipients for services deemed medically unnecessary. Importantly, it states that no copayment or cost-sharing will be imposed on eligible individuals, except as required by federal law.

Furthermore, the bill requires the Commissioner of Human Services to apply for any necessary state plan amendments or waivers to implement these provisions and secure federal financial participation for state Medicaid expenditures. The Commissioner is also responsible for adopting rules and regulations to ensure effective implementation of the bill. Overall, this legislation aims to improve reproductive health access for Medicaid recipients in New Jersey by facilitating easier access to contraceptive methods and ensuring compliance with federal guidelines.