This bill establishes the Health Care Cost Containment Commission within the New Jersey Department of Health and allocates $5 million for its operations. The commission's primary objectives include creating data analytics and reporting mechanisms to enhance healthcare affordability, reviewing healthcare expenditures, identifying trends and drivers of healthcare cost growth, and setting a healthcare cost growth benchmark. The commission will consist of 15 members appointed by various stakeholders, including the Governor, legislative leaders, and representatives from local government, public and private sectors, consumer advocacy groups, and small businesses. Members will serve staggered five-year terms and will be required to convene quarterly and hold at least one annual public meeting.

Additionally, the commission is tasked with preparing an annual report for the Governor and Legislature that includes relevant data, established cost growth benchmarks, and policy recommendations aimed at reducing healthcare costs. The bill also mandates the Commissioner of Health to adopt necessary rules and regulations to implement its provisions. The act is set to take effect 180 days after its enactment.