FISCAL NOTE
Date Requested: February 15, 2025
Time Requested: 11:15 AM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2933 |
Introduced |
SB433 |
|
|---|
| CBD Subject: |
Insurance |
|---|
|
FUND(S):
7152 Insurance Commission Fund
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Senate Bill 433, if enacted, adds a new article to the W. Va. Code called the Dental Insurance Transparency Act.
SB433 requirements and the review of Medical Loss Ratios (MLRs) filed by dental insurers with the OIC is not expected to significantly impact the expenses of the OIC.
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
Senate Bill 433, if enacted, adds a new article to the W. Va. Code called the Dental Insurance Transparency Act.
SB433 requirements and the review of Medical Loss Ratios (MLRs) filed with the OIC is not expected to significantly impact the expenses of the OIC.
Person submitting Fiscal Note: JUANITA WIMMER
Email Address: Juanita.D.Wimmer@wv.gov