FISCAL NOTE
Date Requested: February 21, 2024
Time Requested: 08:57 AM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1152 |
Introduced |
HB4698 |
|
|---|
| CBD Subject: |
Workers Compensation |
|---|
|
FUND(S):
7162, 7163, 7164, 7165
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
If enacted, House Bill 4698 would expand the professionals who may diagnosis post-traumatic stress disorder or PTSD.
HB4689 would have no fiscal impact on the operations, revenues or expenses of the West Virginia Offices of the Insurance Commissioner.
Please see the memorandum section of this fiscal note for additional information.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2024
Increase/Decrease
(use"-") |
2025
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
If enacted, House Bill 4698 would expand the type of professionals who may diagnosis post-traumatic stress disorder or PTSD.
It is probable that the provisions of HB4698 would increase the number of PTSD diagnoses, which may in turn increase the number of claims. Any increase in claims could impact workers' compensation premium rates for employers. It is important to note that governmental entities generally employ first responders so public employers may bear the brunt of any increases. However, the Offices of the Insurance Commissioner does not have sufficient data in regard to a potential increase in the number of PTSD claims due to this bill to prepare a rate impact estimate.
Person submitting Fiscal Note: Rhonda C Hartwell
Email Address: rhonda.c.hartwell@wv.gov