Requires SHBP and SEHBP to implement referenced based pricing program and bundled payment program.

This bill requires New Jersey's State Health Benefits Program (SHBP) and State Employees Health Benefits Program (SEHBP) to implement reference-based pricing and bundled payment systems for healthcare services. It directly affects all public employees, retirees, and their dependents covered under these state health plans. Reference-based pricing sets reimbursement rates based on actual market prices for services, while bundled payments cover entire treatment episodes (like a surgery and recovery) as a single payment instead of per service. The law mandates these systems replace current payment methods to standardize coverage under the existing benefit structure.