(a) The Legislative Council shall establish by rule the State Insurance Programs 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 and the State Captive Insurance Program.
(b) The following decisions of the board pertaining to the State and Public School Life and Health Insurance Program or the State Captive Insurance Program shall be referred to the State Insurance Programs 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 State and Public School Life and Health Insurance Program or the State Captive Insurance Program by reducing or limiting the amount of spending required to administer the State and Public School Life and Health Insurance Program or the State Captive Insurance Program and remain within specific, preplanned budgetary constraints;(2) Any change in plan options offered under the:(A) State and Public School Life and Health Insurance Program for state employees or public school employees; or(B) State Captive Insurance Program for property owned by public schools, state-supported institutions of higher education, or the state;(3) Potential funding changes to the State and Public School Life and Health Insurance Program or the State Captive Insurance Program;(4) Any premium increases or decreases over the previous plan year;(5) Any concern involving the reserve balance for the State and Public School Life and Health Insurance Program or the State Captive Insurance Program;(6) Changes to the four-year projections for the State and Public School Life and Health Insurance Program or the State Captive Insurance Program;(7) Changes that would limit, eliminate, or increase benefits of plan options offered under the State and Public School Life and Health Insurance Program or the State Captive Insurance Program and the effect these changes would have on the fiscal viability of the State and Public School Life and Health Insurance Program or the State Captive Insurance Program, including the reserve balance for the State and Public School Life and Health Insurance Program or the State Captive Insurance Program;(8) Changes that would limit, eliminate, or increase eligibility requirements for the State and Public School Life and Health Insurance Program or the State Captive Insurance 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, by the Employee Benefits Division, or by the Secretary of the Department of Shared Administrative Services regarding the implementation, administration, or enforcement of the State and Public School Life and Health Insurance Program or the State Captive Insurance Program; and(13) Such other matters related to the State and Public School Life and Health Insurance Program or the State Captive Insurance Program as the State Insurance Programs Oversight Subcommittee considers necessary to perform its oversight of all matters related to the State and Public School Life and Health Insurance Program or the State Captive Insurance Program.
(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 State and Public School Life and Health Insurance Program or the State Captive Insurance Program by reducing or limiting the amount of spending required to administer the State and Public School Life and Health Insurance Program or the State Captive Insurance Program and remain within specific, preplanned budgetary constraints;
(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 State and Public School Life and Health Insurance Program or the State Captive Insurance Program by reducing or limiting the amount of spending required to administer the State and Public School Life and Health Insurance Program or the State Captive Insurance Program and remain within specific, preplanned budgetary constraints;
(2) Any change in plan options offered under the:(A) State and Public School Life and Health Insurance Program for state employees or public school employees; or(B) State Captive Insurance Program for property owned by public schools, state-supported institutions of higher education, or the state;
(A) State and Public School Life and Health Insurance Program for state employees or public school employees; or
(B) State Captive Insurance Program for property owned by public schools, state-supported institutions of higher education, or the state;
(3) Potential funding changes to the State and Public School Life and Health Insurance Program or the State Captive Insurance Program;
(4) Any premium increases or decreases over the previous plan year;
(5) Any concern involving the reserve balance for the State and Public School Life and Health Insurance Program or the State Captive Insurance Program;
(6) Changes to the four-year projections for the State and Public School Life and Health Insurance Program or the State Captive Insurance Program;
(7) Changes that would limit, eliminate, or increase benefits of plan options offered under the State and Public School Life and Health Insurance Program or the State Captive Insurance Program and the effect these changes would have on the fiscal viability of the State and Public School Life and Health Insurance Program or the State Captive Insurance Program, including the reserve balance for the State and Public School Life and Health Insurance Program or the State Captive Insurance Program;
(8) Changes that would limit, eliminate, or increase eligibility requirements for the State and Public School Life and Health Insurance Program or the State Captive Insurance 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, by the Employee Benefits Division, or by the Secretary of the Department of Shared Administrative Services regarding the implementation, administration, or enforcement of the State and Public School Life and Health Insurance Program or the State Captive Insurance Program; and
(13) Such other matters related to the State and Public School Life and Health Insurance Program or the State Captive Insurance Program as the State Insurance Programs Oversight Subcommittee considers necessary to perform its oversight of all matters related to the State and Public School Life and Health Insurance Program or the State Captive Insurance Program.
(c) (1) Except as provided in subdivision (c)(2) of this section, if a matter referred to the State Insurance Programs Oversight Subcommittee under subsection (b) of this section would otherwise require review or approval, or both, by a subcommittee of the Legislative Council, the State Insurance Programs 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 State Insurance Programs Oversight Subcommittee under this section are not subject to approval by the State Insurance Programs Oversight Subcommittee but are submitted for review purposes only.
(1) Except as provided in subdivision (c)(2) of this section, if a matter referred to the State Insurance Programs Oversight Subcommittee under subsection (b) of this section would otherwise require review or approval, or both, by a subcommittee of the Legislative Council, the State Insurance Programs 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 State Insurance Programs Oversight Subcommittee under this section are not subject to approval by the State Insurance Programs 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 State Insurance Programs Oversight Subcommittee.(2) The Joint Budget Committee may establish a subcommittee to perform the functions of the State Insurance Programs Oversight Subcommittee that are assigned to the Joint Budget Committee under subdivision (d)(1) of this section.
(1) During a regular, fiscal, or extraordinary session of the General Assembly, the Joint Budget Committee shall perform the functions assigned to the State Insurance Programs Oversight Subcommittee.
(2) The Joint Budget Committee may establish a subcommittee to perform the functions of the State Insurance Programs Oversight Subcommittee that are assigned to the Joint Budget Committee under subdivision (d)(1) of this section.