This bill aims to expand Medicare health care coverage to all residents of New Jersey, regardless of age, health, or disability status. It mandates that the State apply to the federal Centers for Medicare & Medicaid Services (CMS) for any necessary waivers to implement this expansion. The application will include provisions to cover current recipients of health care benefits from federal programs, such as Medicaid and veterans benefits, under the New Jersey Medicare program. Additionally, CMS will estimate the costs associated with providing Medicare for all New Jersey residents and adjust Medicare premiums accordingly, taking into account the estimated revenue from existing Medicare and Medicaid payments.

Furthermore, the bill prohibits any health insurance carrier from offering health benefits plans that duplicate services provided by Medicare, ensuring that all residents participate in the Medicare program. This approach is designed to enhance enrollment and distribute insurance risk across a larger population, ultimately leading to greater cost efficiency in the health care sector. The bill emphasizes the advantages of Medicare, including affordability, patient choice, and lower administrative costs, while aiming to provide low-cost health care coverage to those currently uninsured or at risk of losing their coverage due to the complexities of private health insurance.