NJ S4218

Creates the New Jersey Public Option Health Care Program within the Department of Health, offering comprehensive health insurance coverage to all state residents who enroll, regardless of immigration status, to compete with private insurers in the marketplace

Establishes a 20-member New Jersey Public Option Health Care Board including 3 ex officio members (Commissioners of Health, Banking and Insurance, and Treasurer) plus 17 Governor-appointed members representing healthcare consumers, physicians, hospitals, community health centers, organized labor, and legislative recommendations

Requires the Commissioner of Health to set premiums, deductibles, and co-payments at the lowest possible cost while keeping the program viable, with coverage matching benefits available under NJ FamilyCare, Medicaid, Medicare, and the state's Individual and Small Employer Health Benefits Programs

Directs the commissioner to seek federal waivers under Medicare, Medicaid, and the Affordable Care Act to maximize federal funding and deposit those funds, along with premium revenue, into a newly created New Jersey Public Option Health Care Trust Fund

Automatically qualifies healthcare providers already participating in Medicaid, NJ FamilyCare, or Medicare to participate in the program, while requiring good faith negotiations with provider representatives on payment rates and methodologies