The bill, HB 616, focuses on the Louisiana Department of Insurance (LDI) and its process for conducting actuarial reviews of healthcare legislation. It mandates that by February 1, 2025, LDI must contract with qualified entities to perform these reviews, ensuring that at least one contractor has relevant experience in health insurance premiums and is based in Louisiana. The bill also stipulates that legislators must submit requests for actuarial reviews by December 1 of the year before the legislative session in which the proposal will be introduced. Additionally, the reviews will consider the predicted effects of the proposals during the year immediately following their effective date.

Several amendments have been made to the original bill, including changing the deadline for contracting from December 1, 2024, to February 1, 2025, and removing the requirement for public input meetings. The timeframe for assessing the effects of legislative proposals has been adjusted from five years to the first year after the proposal's effective date. The bill also includes provisions for confidentiality of the actuarial review reports until the legislative proposal is introduced, and it requires insurers to provide actuarial estimates for the costs associated with state benefit mandates. Furthermore, the bill repeals the existing Louisiana Mandated Health Benefits Commission and allows the Louisiana State Law Institute to redesignate the proposed law.

Statutes affected:
HB616 Original: 22:2188(A), 22:2188(B)
HB616 Engrossed: 22:2188(A), 22:2188(B)
HB616 Reengrossed: 22:2188(A), 22:2188(B)
HB616 Enrolled: 22:2188(A)
HB616 Act 714: 22:2188(A)