NJ A5329

Requires the Commissioner of Health to study public and private options for helping individuals prepare for long-term health care services and support needs

The study must model two options: (1) a public long-term health care benefit for workers funded through payroll deductions providing time-limited insurance benefits, and (2) a public-private reinsurance or risk-sharing model to reimburse insurers for catastrophic long-term care losses

The Commissioner must submit a report within 365 days to the Governor and Legislature analyzing expected costs and benefits for participants, anticipated number of participants, projected Medicaid savings, and legal/financial risks to the State

The report must include recommendations for legislation or regulatory changes and incorporate input from the Assembly Aging and Human Services Committee, Senate Health, Human Services and Senior Citizens Committee, and other stakeholders

The Department of Health must provide periodic status updates to legislative committees prior to the final report submission