A. There is hereby established the Group Benefits Policy and Planning Board within the Office of Group Benefits. The board shall review and recommend life and health benefit programs offered to eligible employees, including the proposed rate structure which will support the life and health benefit plan. At least annually, the chief executive officer shall submit any proposed changes to the rate structure and the associated life and health benefits programs to the board to review and recommend prior to the final adoption of the plan. The plan submitted by the chief executive officer shall include an estimate of the costs and an estimated rate structure for a three-year period. The board shall submit a written report to the commissioner of administration, the chief executive officer of the Office of Group Benefits, and the appropriate legislative oversight committees, including any comments and recommendations regarding modifications to such proposed benefit plans and the associated rates.
B. The Group Benefits Policy and Planning Board shall use any official information provided by the Group Benefits Estimating Conference as may be necessary in the review of benefits plans and proposed rate structures required by this Section.