Senate Bill 516 mandates the Group Insurance Board (GIB) to conduct studies assessing the potential costs and savings associated with both mandatory and voluntary participation of Wisconsin school districts in group health insurance plans offered by GIB. The bill requires GIB to collaborate with an actuary to evaluate the financial implications for school districts and current participants in these insurance plans. A written report detailing the findings of these studies must be submitted to the governor and the Joint Committee on Finance within six months of the bill's effective date.

Additionally, the bill creates a new section in the statutes, specifically 20.515 (1) (dm), which establishes a continuing appropriation for the funds necessary to conduct these studies. This ensures that the GIB has the financial resources to carry out the required analyses and report back to the relevant authorities, thereby facilitating informed decision-making regarding school district participation in group health insurance.