OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
http: //www. cga. ct. gov/ofa
April 14, 2010
To Fiscal Note on
sSB-194, File No. 242
AN ACT CONCERNING RATE APPROVALS FOR CERTAIN HEALTH INSURANCE POLICIES.
The fiscal note on the file copy should have indicated that the bill has no fiscal impact on the Department of Insurance (DOI).
The file copy fiscal note included a cost in FY 11 and FY 12 for DOI to hire consultant actuarial hearing officers and transcribers for public hearings related to filed health insurance rate increases (it is anticipated that there could be up to 31 such hearings in both fiscal years). Currently, DOI actuarial staff is involved in insurance rate increase approvals/denials, therefore hearing officers with actuarial expertise are not necessary. Furthermore, DOI's Legal Division currently supports insurance rate hearings (there were 33 of them in FY 09) and could provide the support needed for certain health insurance rate hearings to be made public. Additional consultant hearing officers are not needed. Finally, it is anticipated that hearing transcription could be handled by existing staff and does not require professional transcriber services.