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129th MAINE LEGISLATURE |
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LD 5 |
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LR 393(01) |
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An Act To Require
Notification of Proposed Rate Increases for Long-term Care Policies |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Rep. Tepler of Topsham |
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Committee: Health Coverage, Insurance and
Financial Services |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2019-20 |
FY 2020-21 |
Projections FY 2021-22 |
Projections FY 2022-23 |
| Appropriations/Allocations |
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Other Special Revenue Funds |
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$11,100 |
$14,800 |
$14,800 |
$14,800 |
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| Fiscal Detail
and Notes |
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The Department of
Professional and Financial Regulation anticipates it will require allocations
of $11,100 in fiscal year 2019-20 and $14,800 in fiscal year 2020-21 to hold
additional hearings on proposed rate increases as a result of this bill. This
estimate assumes an additional 4 rate hearings annually, with an average cost
of $3,700 per hearing. The department already has resources sufficient to
fund the additional allocations. |
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