NJ S3838

Allows the Director of the Division of Pensions and Benefits to initiate temporary fund transfers from the State Health Benefits fund to local employer health benefits funds when available funds fall below 10 days of anticipated payments

Limits temporary transfers to no more than 30 days of anticipated payments based on the average of medical, prescription, and dental claims over the past six months

Requires reimbursement of transferred funds within 120 days, with possible extension up to an additional 365 days if necessary to ensure sufficient funding for local employer claims

Mandates monthly reporting to the State Treasurer on all transfers, outstanding balances, repayments received, and current fund balances

Creates a dedicated subaccount within the health benefits fund for payment of health services claims, with restrictions preventing use of these assets for purposes other than benefits administration