Requires the insurance commissioner to: (1) Review each significant legislative rule, adopted on or after the effective date of this act, relating to health carriers or health plans;

(2) Upon completion, transmit all reviews to the legislative health care committees; and

(3) Include in the report of his or her official transactions during the preceding fiscal year, certain performance data on his or her regulatory activities in the health insurance market.

Requires the joint administrative rules review committee, within sixty days of a written request by the chair or ranking minority member of one of the legislative health care committees, to conduct a hearing on a review completed by the insurance commissioner.