Establishes annual cost of living adjustment, based on Consumer Price Index, to base Medicaid per diem rates for assisted living programs; makes appropriation.

This bill establishes an annual cost-of-living adjustment (COLA) for Medicaid reimbursement rates paid to assisted living facilities, comprehensive personal care homes, and assisted living programs in New Jersey. Starting July 1 each year, the base daily reimbursement rates for these facilities will increase by the same percentage as the Consumer Price Index (CPI) for the prior 12 months, as reported by the U.S. Department of Labor. The state will appropriate funds from the General Fund to cover these increased payments, and the Commissioner of Human Services must seek necessary federal approvals to secure matching funds. This directly affects facilities serving Medicaid beneficiaries by adjusting their payment rates annually to account for inflation.