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 coverage gaps and rising healthcare costs. The act 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 healthcare services and providers, funded through federal waivers and state resources. The act also creates the New Jersey Public Option Health Care Board to advise the Commissioner of Health on program implementation and to ensure it meets the needs of residents, particularly low- and moderate-income individuals.

Furthermore, the bill establishes the New Jersey Public Option Health Care Trust Fund within the Department of the Treasury, which will manage funds collected through premiums and federal payments. The State Treasurer will oversee this fund, which is dedicated solely to supporting the program's activities. The Commissioner of Health will determine premiums and charges for program members, aiming to keep costs low while ensuring the program's sustainability. The legislation also emphasizes patient data confidentiality and outlines the procedures for healthcare providers to participate in the program, ensuring that quality and safety standards are maintained.