NJ S426

Extends Medicare coverage under Title XVIII of the Social Security Act to all New Jersey residents regardless of age, health, or disability status, requiring only 30 days of state residency to qualify

Requires New Jersey to apply to the federal Centers for Medicare & Medicaid Services (CMS) for waivers necessary to implement the expansion, including provisions to transition current Medicaid and veterans' benefits recipients

CMS would calculate program costs and establish premiums for New Jersey residents after deducting existing Medicare and Medicaid payment revenues from the state, residents, and federal government

Prohibits private health insurance carriers from offering plans that duplicate services covered by Medicare once the federal waiver takes effect

Section 1 takes effect immediately upon passage; Section 2 (the private insurance prohibition) takes effect when federal approval is granted and applies to policies issued or renewed after that date