This bill establishes new requirements for the consideration and analysis of health insurance mandates in Oklahoma. It defines key terms such as "health benefit plan" and "mandate," and stipulates that no legislation proposing a mandate affecting health plans can be adopted without a thorough impact analysis conducted by the Insurance Department. The analysis must cover social, medical, and financial impacts, including the potential effects on public health, access to care, treatment efficacy, insurance premiums, and the stability of the insurance market.

Additionally, the bill allows the Insurance Department to contract with third-party vendors for specialized services and to seek input from other state agencies regarding the impact on state-funded programs. Once the analysis is completed, the Department is required to provide an electronic copy of the report to relevant legislative leaders and make it publicly accessible on the legislative website. The bill is set to take effect on November 1, 2026.