This bill amends existing law to explicitly establish that members of the State Health Benefits Plan Design Committee and the School Employees Health Benefits Plan Design Committee have a fiduciary duty in their roles. The bill inserts language stating that these committee members "shall act as a fiduciary in carrying out their duties and responsibilities," thereby reinforcing their obligation to act in the best interests of the health benefits programs they oversee. This change aims to clarify the responsibilities of committee members, aligning them with the fiduciary standards already applicable to the members of the State Health Benefits Commission and the School Employees Health Benefits Commission.

In addition to the fiduciary duty, the bill maintains the structure and responsibilities of the committees, which include overseeing various health benefits plans and having the authority to create, modify, or terminate these plans. The decision-making process for both committees remains intact, requiring a certain number of affirmative votes for actions to be approved. Overall, the bill seeks to enhance accountability and ensure that committee members prioritize the interests of the health benefits programs and their participants.

Statutes affected:
Introduced: 52:14-17.27, 52:14-17.46.3