(a)The Legislative Council shall establish by rule the Employee Benefits Division Oversight Subcommittee, which shall have oversight of all decisions of the State Board of Finance related to the State and Public School Life and Health Insurance Program.
(b)The following decisions of the board pertaining to the program shall be referred to the Employee Benefits Division Oversight Subcommittee:
(1)(A) A new or significantly modified cost-containment measure.
(B)As used in this subdivision (b)(1), "cost-containment measure" means a process or practice of controlling and managing expenses of the program by reducing or limiting the amount of spending required to administer the program and remain within specific, preplanned budgetary constraints;
(2)Any change in plan options offered under
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(a) The Legislative Council shall establish by rule the Employee Benefits Division Oversight Subcommittee, which shall have oversight of all decisions of the State Board of Finance related to the State and Public School Life and Health Insurance Program. (b) The following decisions of the board pertaining to the program shall be referred to the Employee Benefits Division Oversight Subcommittee: (1) (A) A new or significantly modified cost-containment measure. (B) As used in this subdivision (b)(1), "cost-containment measure" means a process or practice of controlling and managing expenses of the program by reducing or limiting the amount of spending required to administer the program and remain within specific, preplanned budgetary constraints; (2) Any change in plan options offered under the program for state employees or public school employees; (3) Potential funding changes to the program; (4) Any premium increases or decreases over the previous plan year; (5) Any concern involving the reserve balance for state employees or public school employees; (6) Changes to the four-year projections for the program; (7) Changes that would limit, eliminate, or increase benefits of plan options offered under the program and the effect these changes would have on the fiscal viability of the program, including the reserve balance for state employees or public school employees; (8) Changes that would limit, eliminate, or increase eligibility requirements for the program; (9) Vendor issues or changes in vendors from the previous plan year; (10) Proposed contracts or changes in contracts from the previous plan year; (11) Any change in consultants from the previous plan year; (12) Rules promulgated by the board or by the Employee Benefits Division regarding the implementation, administration, or enforcement of the program; and (13) Such other matters related to the program as the Employee Benefits Division Oversight Subcommittee considers necessary to perform its oversight of all matters related to the program. (c) (1) Except as provided in subdivision (c)(2) of this section, if a matter referred to the Employee Benefits Division Oversight Subcommittee under subsection (b) of this section would otherwise require review or approval, or both, by a subcommittee of the Legislative Council, the Employee Benefits Division Oversight Subcommittee shall serve as the subcommittee of the Legislative Council that performs the required review or approval, or both, of the matter. (2) Proposed rules submitted to the Employee Benefits Division Oversight Subcommittee under this section are not subject to approval by the Employee Benefits Division Oversight Subcommittee but are submitted for review purposes only. (d) (1) During a regular, fiscal, or extraordinary session of the General Assembly, the Joint Budget Committee shall perform the functions assigned to the Employee Benefits Division Oversight Subcommittee. (2) The Joint Budget Committee may establish a subcommittee to perform the functions of the Employee Benefits Division Oversight Subcommittee that are assigned to the Joint Budget Committee under subdivision (d)(1) of this section.