This bill mandates the New Jersey Department of Banking and Insurance (DOBI) to establish an all-payer claims database in collaboration with various health care organizations, including the New Jersey Hospital Association and the New Jersey Medical Association. The database will collect, assess, and report data on medical claims, prescription drug claims, dental and vision claims, eligibility and enrollment, and health care provider information. The department is responsible for overseeing the planning, implementation, and administration of the database, ensuring secure data collection and storage, conducting audits for accuracy, and publishing the data on a public dashboard. Additionally, the bill requires reporting entities to submit data in a prescribed format and allows the department to provide covered persons with information on the cost and quality of health care services.

To enforce compliance, the bill allows the commissioner of the department to impose civil penalties of up to $1,000 per day on reporting entities that fail to report the required health insurance information. The bill also specifies that data submitted to the database must include a unique longitudinal identifier to track health care usage over time. Overall, the legislation aims to enhance transparency in health care costs and quality, enabling covered persons to make informed health care decisions.