This bill amends the New Jersey Medicaid program to mandate coverage for self-administered hormonal contraceptives, which include oral contraceptives, transdermal patches, and vaginal rings, that are dispensed by pharmacists under a "standing order." This standing order allows pharmacists to provide these contraceptives without requiring an individual prescription, thereby improving access for Medicaid beneficiaries. The legislation also ensures that payments for these services are made in full to providers and prohibits any charges to recipients for services deemed medically unnecessary. Furthermore, it specifies that no copayment or cost-sharing will be imposed on eligible individuals, except as mandated by federal law.

In addition to these provisions, the bill requires the Commissioner of Human Services to apply for any necessary state plan amendments or waivers to secure federal financial participation for the implementation of these changes. The Commissioner is also responsible for adopting rules and regulations to facilitate the execution of the act. The bill is designed to take effect immediately upon passage, aiming to streamline access to hormonal contraceptives for individuals eligible for Medicaid in New Jersey.