The bill establishes the Health Care for Child Care Program within the Department of Banking and Insurance, aimed at providing health benefits coverage for employees of licensed child care centers in New Jersey. Eligible employees, who must work a minimum of 30 hours per week and have been employed for at least 90 days, will receive health benefits at the gold level through the New Jersey Individual Health Coverage Program, which includes prescription drug coverage. The State will cover all premiums for these health benefits, ensuring that neither the employees nor their employers bear the financial burden. Additionally, a non-lapsing revolving fund, known as the Health Care for Child Care Fund, will be created to manage the necessary finances for this program.

To support the implementation of this program, the bill appropriates $10 million from the General Fund to the Health Care for Child Care Fund. The legislation recognizes the critical role that child care providers play in the economy and the challenges they face due to low funding and high operational costs. By investing in the health benefits of child care workers, the bill aims to enhance the stability and quality of the child care industry, ultimately benefiting families and the broader economy in New Jersey.