Year 1: New Jersey Saves Little After Christie’s Reform of Public Health Plans

N.J. saves little on reform of health benefits –

First evidence that surfaces which shows that a much more comprehensive reform of healthcare in New Jersey is a must. And it can not be on the backs of the workers alone again.

Healthcare costs are like an albatross not only for the public sector but for the private one as well.

As I have said before, I claim no expertise in the field (never trust anybody who knows everything) and if elected governor of New Jersey in 2013 I will assemble the best team possible to come up with the best healthcare system possible. However, I have one or two ethical/moral pillars from which I can build knowledge.

Elements that I can predict are tort reform, that the state government will be thoroughly involved, and the New Jersey’s Healthcare Exchange (to be created) will have a public option.

Regarding the public pension reform, although it will reap significant savings for the state during the next 30 years, the compounding void created by the state not-contributing will bring New Jersey back to the fiscal hole it was in prior to the reform. I calculate that such a deficit – around $60 billion – will be reached in about 8 years. The bottom line is that the state must contribute its share.

In other words, without the reform – which I supported as a painful but necessary step – New Jersey would be in an even deeper hole but by not contributing, New Jersey will be buried in as much red ink in 2020 as it was in 2010. This is a very serious matter: Christie just kicked the can down the road for a few years.