|Date Requested:January 26, 2012
Time Requested:02:26 PM
| FUND(S) |
Sources of Revenue
Legislation creates:Neither Program nor Fund
Effect this measure will have on costs and revenues of state government.
| The purpose of this bill is to provide that members of the Legislature may participate in the Public Employees Insurance Agency insurance program and pay the same employee share of the cost as other state officers and employees pay.
Passage of this legislation would have no financial impact on the Public Employees Insurance Agency (PEIA). However, there would be a cost to the House of Delegates and the Senate as a result of assuming the difference between what Legislators would pay and the Agency would be obligated to pay.
There are one hundred (100) members in the House and thirty four (34) members in the Senate for a total of one hundred thirty four (134) potential members that this legislation would affect. At this time the PEIA cannot determine of the one hundred thirty four (134) delegates who might elect coverage under the plan. For purposes of this projection it will be assumed that all will elect coverage for a maximum cost to the agencies.
House of Delegates:
Projecting one hundred and thirty four (134) members of the Legislature acquiring PEIA insurance coverage this equates to approximately $3,231,225.00 that would be paid by the House of Delegates and the Senate for the three fiscal years.
Since the House of Delegates and Senate are appropriated General Revenue accounts this would be a direct cost to the General Revenue Fund.
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||0||0|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||0||0|
3. Explanation of above estimates (including long-range effect):