OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
AN ACT ESTABLISHING THE CONNECTICUT HEALTHCARE PARTNERSHIP.
LCO No.: 4779
File Copy No.: 486
House Calendar No.: 288
OFA Fiscal Note
FY 09 $
FY 10 $
IF - Cost
$300, 000 - $420, 000
$315, 000 - $435, 000
Note: IF=Insurance Fund
The amendment would result in a cost of between $250, 000 and $350, 000 in FY 09 to the Department of Insurance (DOI) as the agency would need to hire an outside consultant to complete the one-time benefit evaluation required by the bill. DOI does not have the resources in staff or systems capability to be able to fulfill this provision in-house.
It also requires DOI to contract with an independent entity annually to conduct an impact review of proposed legislation related to health insurance mandates, resulting in an annual cost to the agency of between $50, 000 and $70, 000 both in FY 09 and FY 10.
Provisions requiring an annual report to be submitted to the joint standing committee of the General Assembly on matters relating to insurance not later than December 31, 2009 on proposed, repealed or changed benefits would result in an approximately $15, 000 cost in FY 10 to DOI to hire an outside consultant to complete this report.
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.