FISCAL NOTE
Date Requested: March 07, 2025
Time Requested: 06:49 PM |
| Agency: |
Insurance Commission |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 2856 |
Introduced |
HB2690 |
|
|---|
| CBD Subject: |
Health |
|---|
|
FUND(S):
7152 Insurance Commission Fund
Sources of Revenue:
Special Fund
Legislation creates:
Creates New Expense, Increases Existing Expenses
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
House Bill 2690, if enacted, would create the Dental Insurance Transparency Act to regulate dental health care service plans, provide for transparency of expenditures of patient premiums, require carriers to file annual reports; authorize methods of payment; authorize third party network contracts, require annual rebates in the form of premium reductions if funds spent for patient care is less than a certain percentage of premiums funds; and provide for legislative and emergency rulemaking.
Please see the memorandum section of this fiscal note for additional information.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2025
Increase/Decrease
(use"-") |
2026
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 2690, if enacted, would create the Dental Insurance Transparency Act to regulate dental health care service plans, provide for transparency of expenditures of patient premiums, require carriers to file annual reports; authorize methods of payment; authorize third party network contracts, require annual rebates in the form of premium reductions if funds spent for patient care is less than a certain percentage of premiums funds; and provide for legislative and emergency rulemaking.
The OIC believes HB2690 would increase expenses of the OIC to obtain the services of an actuarial firm to assist with the review of certain MLR reports but we are unable to estimate the increased expenses accurately at this time.
Person submitting Fiscal Note: Rhonda C Hartwell
Email Address: rhonda.c.hartwell@wv.gov