COBI 2014 - Health Insurance Actuary

Compendium of Budget Information for the 2014 General Session

Business, Economic Development, and Labor
Appropriations Subcommittee

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Agency: Insurance

Line Item: Health Insurance Actuary

Function

Under 31A-30-115, Actuarial review of health insurance plans, the department is required to conduct an actuarial review of rates submitted by small employer carriers to determine compliance with UCA 31A-30-202.5(1)(b). The review is to verify the validity of the rates, underwriting and risk factors, and premiums of plans both inside and outside the Health Insurance Exchange and to verify that insurers are pricing similar health benefits in like manners. The cost of the actuarial review is currently being covered by a federal grant. Historically the cost has been covered by the Health Insurance Actuarial Review Restricted Account.

Funding Detail

Program funding is used to pay the costs of the actuarial study and is funded from the Health Insurance Actuarial Review Restricted Account.

Sources of Finance (click linked fund name for more info)
General Fund, One-time
GFR - Health Insurance Actuarial Review
Beginning Nonlapsing
Closing Nonlapsing
Lapsing Balance
Total

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
$0	$0	$35,000	$0	$0	$0	$0	$0	$0
$0	$150,000	$112,000	$147,000	$147,000	$0	$147,000	$0	$147,000
$0	$0	$0	$137,800	$137,800	$0	$137,800	$147,000	$284,800
$0	$0	($137,800)	($137,800)	($137,800)	($147,000)	($284,800)	$3,500	($281,300)
$0	($59,200)	($2,700)	($147,000)	$0	$0	$0	$0	$0
$0	$90,800	$6,500	$0	$147,000	($147,000)	$0	$150,500	$150,500

Programs: (click linked program name to drill-down)
Health Insurance Actuary
Total

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
$0	$90,800	$6,500	$0	$147,000	($147,000)	$0	$150,500	$150,500
$0	$90,800	$6,500	$0	$147,000	($147,000)	$0	$150,500	$150,500

Categories of Expenditure (mouse-over category name for definition)
Personnel Services
In-state Travel
Out-of-state Travel
Current Expense
DP Current Expense
Total

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
$0	$0	$0	$0	$0	$0	$0	$147,000	$147,000
$0	$0	$0	$0	$0	$0	$0	$500	$500
$0	$0	$0	$0	$1,000	($1,000)	$0	$3,000	$3,000
$0	$90,800	$6,500	$0	$144,000	($144,000)	$0	$0	$0
$0	$0	$0	$0	$2,000	($2,000)	$0	$0	$0
$0	$90,800	$6,500	$0	$147,000	($147,000)	$0	$150,500	$150,500

Other Indicators
Budgeted FTE
Actual FTE

2010 Actual	2011 Actual	2012 Actual	2013 Actual	2014 Approp	2014 Change	2014 Revised	2015 Change	2015 Approp
0.0	1.0	0.0	1.0	0.0	0.0	0.0	0.0	0.0
0.0	1.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0

Subcommittee Table of Contents

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COBI contains unaudited data as presented to the Legislature by state agencies at the time of publication. For audited financial data see the State of Utah's Comprehensive Annual Financial Reports.