(a)The General Assembly finds that:
(1)The continual evaluation of the State and Public School Life and Health Insurance Program by the General Assembly is critical for:
(A)Maximizing the benefits to the state employees and public school employees who are participants in the program; and (B) Maintaining continued viability of the program;
(2)Accountability and transparency in the operation of the program are vital to a proper evaluation of the program; and (3) Extraordinary provisions for legislative oversight of the program are necessary and required.
(b)(1) The State Board of Finance and the Director of the Employee Benefits Division shall report to the Legislative Council on a quarterly basis.
(2)The quarterly report required under subdivision (b)(1) of this section shall:
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(a) The General Assembly finds that: (1) The continual evaluation of the State and Public School Life and Health Insurance Program by the General Assembly is critical for: (A) Maximizing the benefits to the state employees and public school employees who are participants in the program; and (B) Maintaining continued viability of the program; (2) Accountability and transparency in the operation of the program are vital to a proper evaluation of the program; and (3) Extraordinary provisions for legislative oversight of the program are necessary and required. (b) (1) The State Board of Finance and the Director of the Employee Benefits Division shall report to the Legislative Council on a quarterly basis. (2) The quarterly report required under subdivision (b)(1) of this section shall: (A) Be known as the "Employee Benefits Division Quarterly Report"; (B) Be submitted to the Legislative Council no later than thirty (30) calendar days after the end of each calendar quarter; and (C) Include without limitation the following information regarding the program: (i) (a) A new or significantly modified cost-containment measure. (b) As used in this subdivision (b)(2)(C)(i), "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; (ii) Any change in plan options offered under the program for state employees or public school employees; (iii) Potential funding changes to the program; (iv) Any premium increases or decreases over the previous plan year; (v) Any concern involving the reserve balance for state employees or public school employees; (vi) Changes to the four-year projections for the program; (vii) Changes that would limit, eliminate, or increase benefits of plan options offered under the program and the impact these changes would have on the fiscal viability of the program, including the reserve balance for state employees or public school employees; (viii) Changes that would limit, eliminate, or increase eligibility requirements for the program; (ix) Vendor issues or changes in vendors from the previous year; (x) Proposed contracts or changes in contracts from the previous year; (xi) Any change in consultants from the previous year; (xii) Rules promulgated by the board or the Employee Benefits Division regarding the implementation, administration, or enforcement of the program; and (xiii) Such other matters related to the program as the Legislative Council considers necessary to perform its oversight of all matters related to the program.