The New Jersey Public Option Health Care Act aims to create a comprehensive health insurance program that is accessible to all residents of New Jersey, addressing the challenges of rising health care costs and inadequate coverage. The act emphasizes the right to health care and establishes a public option that will compete with private insurance, ensuring affordable and comprehensive coverage. The Department of Health is responsible for developing the New Jersey Public Option Health Care Program, which will encompass a wide range of health services and providers, funded through federal waivers and state resources. The program will be overseen by the Commissioner of Health, who will collaborate with the Commissioner of Banking and Insurance.

Additionally, the act establishes the New Jersey Public Option Health Care Board, composed of various stakeholders, including health care consumer advocates, professionals, and representatives from hospitals and labor organizations, to advise on the program's implementation. The program will allow all residents to enroll, with the Commissioner setting premiums to maintain affordability. It mandates comprehensive health coverage, establishes standards for provider participation, and ensures patient data confidentiality while allowing for public access to aggregate data. The act will take effect three months after its enactment, with funding sourced from a newly created nonlapsing revolving fund known as the New Jersey Public Option Health Care Trust Fund.