Requires contracted actuary for SHBP and SEHBP to present annual rate projections and analyses by certain dates.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill mandates that the contracted actuary for the State Health Benefits Program (SHBP) and the State Employees Health Benefits Program (SEHBP) must provide annual projections and analyses of anticipated rates. These projections and analyses are required to be submitted by specific deadlines. The purpose of this legislation is to increase transparency and allow the state to better plan for healthcare costs. This will help ensure the programs remain financially sustainable.
Key provisions
- The contracted actuary for SHBP and SEHBP must submit annual rate projections.
- The actuary must provide accompanying analyses of the rate projections.
- Specific deadlines are established for the submission of these projections and analyses.
- The bill applies to the State Health Benefits Program (SHBP) and the State Employees Health Benefits Program (SEHBP).
Who is affected
- State Employees
- State Health Benefits Program Participants
- State Employees Health Benefits Program Participants
- The Division of Investment and Asset Management
- The New Jersey Department of the Treasury
Notable changes
- Currently, the timing and format of rate projections may not be as clearly defined.
- This bill establishes a more structured and formalized process for rate projections.
Bill text
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Sponsors
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1 on record
Primary sponsor
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