AR SB587

Changes reporting requirement for the State and Public School Life and Health Insurance Board from "upon request" to "quarterly" reporting to the House and Senate Committees on Insurance and Commerce.

Requires all plan design changes effective January 1, 2022, or later to be presented to the House and Senate Committees on Insurance and Commerce in public meetings for review before final adoption.

Specifies that plan design changes requiring legislative review include new or significantly modified cost-containment measures, premium increases exceeding 5% over the previous year, and limitations or eliminations of plan benefits or eligibility.

Declares an emergency effective on the date of gubernatorial approval, the expiration of the veto period if unsigned, or the date of veto override, citing the need for General Assembly review of board decisions affecting state employee and teacher health insurance coverage.