This bill establishes new procedures for analyzing legislation related to health benefit plans in Oklahoma. It defines key terms such as "Bureau," "Department," "Health benefit plan," "Legislative actuary," and "Mandate." When a bill proposing a mandate is introduced, it must be assigned to the appropriate legislative committee responsible for insurance legislation. If a majority of the committee votes in favor, an impact analysis will be conducted by the Insurance Department, which will include assessments of social impact, medical efficacy, and financial implications. The Department may also contract with third-party vendors for assistance in this analysis.

Additionally, the bill limits the number of referrals for analysis to five per fiscal year, requiring any further requests to be approved by the Insurance Commissioner. The findings from the impact analysis must be reported back to the Legislative Service Bureau within sixty days, and the Bureau is responsible for disseminating the report to relevant legislative members and making it available on the legislative website. The act is set to take effect on November 1, 2025.