1. To the extent that money and resources are available for this purpose, on or before August 31 of each even-numbered year, the Board shall: (a) Compile a report concerning the cost for a retired state employee to obtain coverage through the Program under Medicare that is actuarially comparable to the coverage provided through the Program but not under Medicare; and (b) Submit the report to the Director of the Legislative Counsel Bureau for transmittal to the Interim Finance Committee. 2. The report compiled pursuant to subsection 1 must consider, without limitation: (a) The cost of the lowest premium charged in this State for coverage pursuant to Medicare Part B, 42 U.S.C. 1395j et seq.; (b) The average cost in this State to obtain a Medicare supplemental policy that provides comparable benefits to those provided under the applicable plan of health insurance offered under the Program; (c) The average cost in this State to obtain coverage of prescription drugs under Medicare Part D, 42 U.S.C. 1395w-101 et seq.; and (d) The average cost in this State to obtain dental and vision coverage, other than limited coverage, through a Medicare Advantage Plan under Medicare Part C, 42 U.S.C. 1395w-21 et seq. 3. The Board may utilize the resources of the Authority, including, without limitation, the Office of Data Analytics of the Authority and persons and entities with which the Authority has contracted, to prepare the report required by this section.
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