(1) The State and Public School Life and Health Insurance Program is established to manage life and health insurance plan options for the benefit of state employees, state employee retirees, public school employees, and public school employee retirees.
(2) It is the purpose of this subchapter to: Create a single board to administer the program and to select and offer life and health insurance plan options under the program to participants;
(3) Develop self-funded health plan options that enhance the ability to control premiums and utilize managed care capabilities if feasible and in the best interest of participants; and
(4) Enable a single board to: Set and manage policies for the program;
(5) Work in a concerted effort toward a common goal of parity between public school and state employee insurance programs;
(6) Improve the quality of healthcare services under the program;
(7) Increase participants' understanding of program features by educating state employees, state employee retirees, public school employees, and public school employee retirees on the program and plan options available under the program, including the advantages and disadvantages of each available plan option; and
(8) Slow the rate of growth of healthcare expenses under the program.