OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
AN ACT CONCERNING THE CONNECTICUT HEALTH INSURANCE EXCHANGE BOARD OF DIRECTORS.
OFA Fiscal Note
The bill does not result in a cost to the state or municipalities. The bill will result in a cost to the Connecticut health insurance exchange, Access Health CT1, of at least $500. The cost is the result of two factors: 1) purchase of a surety bond for the additional board member, and 2) potential reimbursable expenses of the new member. Current law requires a $50,000 surety bond for each board member. The cost of a surety bond is between 1-3% of the face value of the bond. In addition, current law does not provide compensation for being a member of the board but does provide reimbursement for expenses incurred for the “performance of official duties.”
The Out Years
1 Access Health CT is a quasi-public state agency whose operations are predominately supported through an assessment on insurers.