AN ACT CONCERNING THE RATE APPROVAL PROCESS FOR CERTAIN HEALTH INSURANCE POLICIES.

OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 ↓ (860) 240-0200

http: //www.cga.ct.gov/ofa

sSB-11

AN ACT CONCERNING THE RATE APPROVAL PROCESS FOR CERTAIN HEALTH INSURANCE POLICIES.

AMENDMENT

LCO No.: 8239

File Copy No.: 203

Senate Calendar No.: 157

Agency Affected	Fund-Effect	FY 12 $	FY 13 $
Insurance Department	IF - Reduces Cost in Bill	See Below	See Below

Note: IF=Insurance Fund

Municipal Impact: None

Explanation

The amendment strikes the underlying bill and its estimated cost of $2.25 million.

The amendment results in additional annualized costs related to new actuarial rate reviews. Assuming 30 additional rate reviews, there will be an annualized cost of approximately $40, 000 to the Department of Insurance (DOI) for personnel and fringe benefit expenses.

The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely for the purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of informational sources, including the analyst's professional knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.