Download Zipped Introduced WP 6.1 SB0009.zip
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The bill will require approximately 345 insurance companies to change their policy forms and re-file them with the Insurance Department. This will generate approximately $6,900 revenue to the General Fund. A one-time appropriation of $2,000 from the General Fund is needed for processing and postage. The proposed changes would not impact State government and local government entities covered by PEHP (Public Employees Health Program). Insurance companies not exempt from ERISA (Employee Retirement Income Security Act of 1974) could see increased costs between 0 and 0.2 percent. The amount of the increase depends on the disparity between the new requirement and the current level of benefits provided by that company. This effect may be felt by some local governments, some institutions of higher education and some public school districts if their present insurance coverage does not include the benefit outlined in this bill.
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Office of the Legislative Fiscal Analyst
1/19/00 4:25:10 PM