New Jersey A5265 requires members of the State Health Benefits Plan Design Committee and the School Employees’ Health Benefits Plan Design Committee.

New Jersey A5265 amends existing law to specify that members of the State Health Benefits Plan Design Committee and the School Employees’ Health Benefits Plan Design Committee must act as fiduciaries in carrying out their duties and responsibilities. This means they must manage the health benefits plans with the utmost care, loyalty, and good faith, ensuring the best interests of the participants are protected. The bill also outlines the composition, terms, and duties of these committees, including the appointment process and the authority to create, modify, or terminate health benefit plans.

New Jersey A5265 requires members of the State Health Benefits Plan Design Committee and the School Employees’ Health Benefits Plan Design Committee.

New Jersey A5265 amends existing law to specify that members of the State Health Benefits Plan Design Committee and the School Employees’ Health Benefits Plan Design Committee must act as fiduciaries in carrying out their duties and responsibilities. This means they must manage the health benefits plans with the utmost care, loyalty, and good faith, ensuring the best interests of the participants are protected. The bill also outlines the composition, terms, and duties of these committees, including the appointment process and the authority to create, modify, or terminate health benefit plans.