FISCAL NOTE
Date Requested: February 15, 2025
Time Requested: 10:21 AM |
| Agency: |
Human Services, WV Department of |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1555 |
Introduced |
SB6 |
|
|---|
| CBD Subject: |
Health; Insurance |
|---|
|
FUND(S):
'0484 - Bureau For Medical Services -Policy and Programming; 8722 - Cons Federal Funds Div Human Resources Gen Admin Fd
Sources of Revenue:
Other Fund General and Federal
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to make life insurance cash value exempt when calculating eligibility for Medicaid.
The Department estimates a de minimus fiscal impact relating to this legislation.
When cash surrender value (CSV) exceeds the cash limit, members assign their life insurance to create a pre-burial contract. Coverage denials due to CSV are rare and asset limits are fairly high for Medicare premium assistance (MPA) groups so CSV is not often a barrier.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2025
Increase/Decrease
(use"-") |
2026
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
Person submitting Fiscal Note: Alex J. Mayer
Email Address: osafiscalnotes@wv.gov