FISCAL NOTE
FUND(S):
7152
Sources of Revenue:
Special Fund
Legislation creates:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
HB 4591 would have a small impact on the revenues and expenditures of state government as they directly relate to the regulatory responsibilities of the Offices of the Insurance Commissioner (projected $4,000 additional costs).
The proposal requires the OIC to annually adjust and publish the maximum benefit for behavior analysis.
In addition, commercial insurers would file rates incorporating the increased benefits, but the process for filing and review at the state would remain unchanged, so no fiscal impact as is relates to the operations of the Offices of the Insurance Commissioner for this portion has been calculated.
The proposal would have a fiscal impact on PEIA and Medicaid's benefit costs. A fiscal note request has also been made of PEIA and should be read in conjunction with this note.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2010
Increase/Decrease
(use"-") |
2011
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
4,000 |
4,000 |
| Personal Services |
0 |
3,000 |
3,000 |
| Current Expenses |
0 |
1,000 |
1,000 |
| 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):
The researching, setting and noticing of all insurers of the change will require an estimated 5% of a professional level staff’s resources and another $1,000 for current expenses to cover the costs of publication.
PS = $46,000 + EB $14,000 = $60,000 * 5% = $3,000
Current Expense = $1,000 annual insurer notice and publication
Memorandum
PEIA has also been asked to provide a fiscal note for the bill.
Person submitting Fiscal Note: Michael D Riley
Email Address: Michael.Riley@wvinsurance.gov