Creates Health Care Cost Containment and Price Transparency Commission, Office of Healthcare Affordability and Transparency, and hospital price transparency regulations.

S 3012 creates two new state entities: the Health Care Cost Containment and Price Transparency Commission and the Office of Health Care Affordability and Transparency within New Jersey’s Department of Health. The bill requires hospitals and other health care entities (including insurers and providers) to publicly report detailed pricing data for services like inpatient care, emergency visits, and physician services using standard medical codes. It establishes price growth benchmarks to monitor cost trends, mandates public reporting of pricing data, and empowers the Commission to address entities exceeding these benchmarks through transparency measures and potential penalties. The law directly affects all New Jersey hospitals and health care payers by requiring data transparency and cost monitoring to improve affordability.