FISCAL NOTE
Date Requested: January 16, 2018
Time Requested: 03:05 PM |
| Agency: |
Public Employees Insurance Agency (PEIA) |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2006 |
Originating |
SB299 |
|
|---|
| CBD Subject: |
Insurance |
|---|
|
FUND(S):
PEIA
Sources of Revenue:
Special Fund
Legislation creates:
Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to provide mandatory insurance coverage for medically necessary foods in the treatment of inherited enzymatic disorders. This fiscal note will increase costs for the PEIA plan as this aspect of the treatment is currently not a covered benefit.
A review of PEIA’s claims information over the past three and one half years indicates 60 members with the conditions listed in §5-16-7b (a) of this bill. Research indicates the average cost of medically necessary formula is $225 a month. By applying this average monthly cost to the current population of members with the applicable conditions, PEIA estimates it will assume additional costs of $25,000 in fiscal year 2019, $162,000 in fiscal year 2020 and $171,720 in FY 2021 using an assumed trend of 6%.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2018
Increase/Decrease
(use"-") |
2019
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
25,000 |
162,000 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
25,000 |
162,000 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
Please explain increases and decreases in personal services, current expenses, repairs and alterations, assets, other costs and revenues, including assumptions and data sources and delineation between start-up and ongoing costs. Please also include a long-range schedule of costs and revenues if fiscal impact is expected to vary in future years.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
Person submitting Fiscal Note: jason haught
Email Address: jason.a.haught@wv.gov