Fiscal Note - State of Utah - 2014 General Session
HB0141 - Health Reform Amendments
State Government (UCA 36-12-13(2)(b)):
Costs to the Department of Insurance to implement the risk adjustment program established in the bill could be $265,500 annually. The first year of cost could be covered by a federal grant subsequent costs could be covered through fee revenue accruing to the Individual and Small Employer Risk Adjustment Enterprise Fund. The Department of Insurance could also experience one-time costs of $2,300 for rule development. Spending from the Insurance Department Restricted Account affects annual transfers to the General Fund.
| State Budget Detail Table | FY 2014 | FY 2015 | FY 2016 |
| Revenue: | |||
| General Fund, One-Time | $0 | ($2,300) | $0 |
| Restricted Funds | $0 | $267,800 | $265,500 |
| Restricted Funds | $0 | ($265,500) | $0 |
| Total Revenue | $0 | $0 | $265,500 |
| Expenditure: | |||
| Federal Funds | $0 | $265,500 | $0 |
| Restricted Funds | $0 | $267,800 | $265,500 |
| Restricted Funds | $0 | ($265,500) | $0 |
| Total Expenditure | $0 | $267,800 | $265,500 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | ($267,800) | $0 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | ($2,300) | $0 |
Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill likely will not result in direct, measurable costs for local governments.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
An estimated 40 companies could pay fees of $6,637 annually for the risk adjustment program.
Performance Note Required? (Joint Rule 4-2-404): No
| 2/20/2014, 7:51:42 AM, Lead Analyst: Wilko, A./Attny: CJD | Office of the Legislative Fiscal Analyst |