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NJ S3851
Bill
Status
10/28/2024
Primary Sponsor
Nicholas Scutari
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AI Summary
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Reduces the notification deadline from 30 days to 5 days for the Director of the Division of Pensions and Benefits to notify the State Health Benefits Commission after transferring funds between State and local parts of the State Health Benefits Program (SHBP)
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Requires a report on claims payable, available fund balance, and anticipated premiums for the local government health benefits funds before any transfer of funds from the State part of SHBP, with data categorized by active and retired employees
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Mandates monthly reporting to the State Health Benefits Commission on available funds for both State and local parts of SHBP, including cash balances, claims costs incurred, and premiums collected, beginning 30 days after the bill's effective date
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Amends pending legislation (A4999/S3838) that authorizes temporary fund transfers when local government health benefits funds fall below levels sufficient to cover 10 days of anticipated payments
Legislative Description
Requires Division of Pensions and Benefits to provide report on available funds in local government part of SHBP prior to transferring funds from State part of SHBP; requires monthly reporting on certain assets in SHBP.
Substituted by another Bill
Last Action
Substituted by A5039
12/19/2024