Senate Bill 697 mandates the Group Insurance Board (GIB) to conduct studies assessing the potential costs and savings associated with both mandatory and voluntary participation of school districts in state group health insurance plans. The bill requires GIB to consult 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.

To facilitate these studies, the bill creates a new provision under section 20.515 (1) (x) of the statutes, which allocates funds from the public employee trust fund administrative account for the actuarial studies. This legislative action aims to provide a clearer understanding of the impact of school district participation in group health insurance, potentially leading to more informed policy decisions regarding health insurance options for educational institutions in Wisconsin.