|Date Requested:February 15, 2005
Time Requested:09:37 AM
| 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 for the continuance of medical coverage for the spouse of a deceased retired employee for any period previously purchased with accumulated leave.
For purposes of responding to this bill, the PEIA has submitted two scenarios. The first scenario allows surviving spouses of employees retiring after July 1, 2005 to maintain extended insurance coverage while the second scenario allows surviving spouses of any retired employee, current or future, to maintain extended insurance coverage.
The projected cost of this bill assuming an implementation date of July 1, 2005 allowing surviving spouses of newly retired employees to continue extended insurance coverage by virtue of accumulated leave is as follow:
FY-06 $.92 Million, FY-07 $1.06 Million, FY-08 $1.28 Million, FY-09 $1.56 Million, FY-10 $1.9 Million for a Total Cost of $6.72 Million.
The projected cost of this bill allowing surviving spouses, of current retirees as well as newly retired employees, to continue extended insurance coverage by virtue of accumulated leave is as follow:
FY-06 $3.09 Million, FY-07 $4.04 Million, FY-08 $4.88 Million, FY-09 $5.95 Million, FY-10 $7.25 Million for a Total Cost of $25.21 Million.
Funding for this benefit, regardless of scenario, will be borne strictly by the Agency which could 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):