Renee Steinhagen, executive director of Appleseed New Jersey, wants the New Jersey Legislature to slow down the Horizon restructuring bill until it at least contains a few key provisions, like defining the charitable trust portion and ensuring that 100% of stocks are held by the mutual.

“I want to thank Assemblyman McKeon and the Committee members for giving NJ Citizen Action and NJA the opportunity to express our significant concerns about the proposed legislation,” Steinhagen told InsiderNJ after yesterday’s hearing and in advance of the bill’s scheduled introduction on Dec. 7th.

“The bill implicates major issues of charitable trust law and public policy that have enormous import for the health consumers in this State,” the activist added. “Accordingly,  we request that both legislative bodies slow down the process so that several public hearings can be held at which time members of the public can speak (not just invited guests), and the necessary amendments can be made to both procedurally and substantively protect the approximately $7billion or more in charitable health care assets that represent Horizon’s fair market value and which belong to the New Jersey public.”

Insiders say the bill contains major political implications for the state, not to mention for Governor Phil Murphy’s imminent budget address.