The governor's action on Thursday makes California the first state to implement an oversight board for insurance exchange marketplaces since the new federal law was enacted earlier this year.
Additional bills in the package prohibit insurers from denying coverage to children because of a pre-existing condition and allow young adults to stay on their parents' health care plans until age 26.
The legislation aims to bring the nation's most populous state in line with federal reforms scheduled to take effect in 2014.
