Rice Bills to Create Greater Transparency Among Businesses and Health Care Entities

TRENTON – Two pieces of legislation sponsored by Senator Ronald Rice would create greater transparency for businesses, as well as health care insurance consultants and carriers who contract with public entities.

“Transparency is one of the most important characteristics needed in politics,” said Senator Rice (D-Rice). “Just as we should expect transparency in politics, we should expect it from the private sector, as well as when working with the public sector. This bill will promote more transparency among businesses, as well as health insurance providers and carriers which work with public entities. If they wish to work with us, they need to be open about their finances.”

The first bill, S-2228, would require health insurance consultants and carriers to provide health insurance information to any public entity they are contracted with, as health insurance is a major expense. By requiring greater transparency in health insurance usage and costs, as well as requiring review of this information, the bill would help the public ensure taxpayer funds are being spent on their employee’s health insurance in a cost-effective manner.

The second bill, S-3199, would require a business to file an annual disclosure statement with the New Jersey Election Law Enforcement Commission for campaign contributions. This is if the business entity receives $50,000 or more over the course of a calendar year in commissions or fees for placing third parties into contractual relationships with public entities. The bill is intended to provide transparency and close a loophole which has permitted certain companies to circumvent laws requiring disclosure of campaign contributions. Under current law, a business is only required to report amounts received through direct contracts with public entities.

The bill, S-2228, was introduced on March 5, 2018 into the Senate Commerce Committee. The bill, S-3199, was introduced on November 26, 2018 into the Senate State Government, Wagering, Tourism and Historic Preservation Committee.