The bill requires the division of insurance (division),
to retain a contractor on or before November 1, 2022, to retain by contract one or more entities that have experience in actuarial reviews for the purpose of performing actuarial reviews of proposed legislation legislative proposals that may impose a new health benefit mandate on health benefit plans or reduce or eliminate coverage mandated under health benefit plans . The contractor contractors , under the direction of the division, shall conduct an actuarial review of up to 5 6 legislative proposals. for each regular legislative session, each at the request of a member of the general assembly. Each actuarial review performed by the contractor must consider the predicted effects of the legislative proposal during the 5 and 10 years immediately following the effective date of the proposed legislation, or during another time period following the effective date if such consideration is more actuarially feasible, including specifically described considerations.
In preparing a fiscal note for any legislative proposal that may impose a new health benefit mandate on health benefit plans, the legislative service agency charged with preparing the fiscal note shall
either: include a statement that a report has been prepared by the contractors for the legislative proposal and an indication of how the report may be obtained in its entirety. Include in the fiscal note information that is produced by the contractor in review of the legislative proposal; or If no information is produced by the contractor in review of the legislative proposal, indicate such fact in the fiscal note.
- $50,000 for personal services; and
- $50,000 for operating expenses.
(Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.)
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)