The New Jersey Public Option Health Care Act aims to create a comprehensive health insurance program that provides affordable coverage to all residents of New Jersey. This program will be managed by the Department of Health and will compete with private insurance options to address the rising costs and inadequacies of current health coverage. The act emphasizes the right to health care for all residents and mandates the establishment of the New Jersey Public Option Health Care Board, which will consist of various stakeholders, including health care consumer advocates and representatives from hospitals and labor organizations. This board will advise the Commissioner of Health on the program's implementation and operations.

To finance the program, the act establishes the New Jersey Public Option Health Care Trust Fund, which will collect premiums, federal payments, and state appropriations. The fund will be managed by the State Treasurer, and all disbursements will be made from it. The Commissioner of Health will be responsible for setting premiums and charges for program members, ensuring affordability while maintaining the program's viability. Additionally, the act outlines qualifications for health care providers participating in the program and mandates the protection of patient confidentiality regarding collected data. The act is set to take effect three months after its enactment.