FISCAL NOTE

Date Requested: February 07, 2020
Time Requested: 10:47 AM
Agency: Insurance Commission
CBD Number: Version: Bill Number: Resolution Number:
3060 Introduced HB4739
CBD Subject: Insurance


FUND(S):

7152

Sources of Revenue:

Special Fund

Legislation creates:





Fiscal Note Summary


Effect this measure will have on costs and revenues of state government.


    House Bill 4739, if enacted, would require pharmacy services administrative organizations to be licensed and regulated by the Insurance Commissioner.
    
    The passage of HB 4739 will have no significant fiscal impact on the Offices of the Insurance Commissioner.
    
    Please see the memorandum of this fiscal note for additional information.



Fiscal Note Detail


Effect of Proposal Fiscal Year
2020
Increase/Decrease
(use"-")
2021
Increase/Decrease
(use"-")
Fiscal Year
(Upon Full
Implementation)
1. Estmated Total Cost 0 0 0
Personal Services 0 0 0
Current Expenses 0 0 0
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


    House Bill 4739, if enacted, would require pharmacy services administrative organizations to be licensed and regulated by the Insurance Commissioner.
    
     The passage of HB 4739 is not expected to have any significant fiscal impact on the Offices of the Insurance Commissioner, because the duties and responsibilities required of the Insurance Commissioner by House Bill 4739, are very closely aligned with the duties set forth in the 2019 legislative session with the passage of SB 489.
    
     OIC does not believe that any additional FTEs will be required to manage the licensure and regulation of pharmacy services administrative organizations above and beyond the resources required to license and regulate pharmacy benefit managers.
    



    Person submitting Fiscal Note: Melinda Kiss
    Email Address: Melinda.A.Kiss@wv.gov