In performing an independent healthcare actuarial review of a mandated benefit, the actuary or actuaries retained by the director of the legislative service commission shall consult with professionals knowledgeable in matters related to the performance of an actuarial review of a mandated benefit and shall consider the results of any professionally acceptable controlled trial and any other relevant research specifically centered around the benefit. The actuary or actuaries shall determine the extent to which:
(A) The mandated benefit will increase or decrease the administrative expenses of insurance companies and health insuring corporations;
(B) The mandated benefit will increase or decrease premiums;
(C) Small employers, medium-sized employers, large employers, and, if applicable, the state and political subdivisions of the state, will be financially impacted;
(D) The mandated benefit will increase or decrease the number of insured individuals in this state; and
(E) The mandated benefit will impact the total cost and quality of health care, including any potential cost savings that may be realized.
Effective Date: 12-13-2001