129th MAINE LEGISLATURE
LD 5 LR 393(03)
An Act To Require Notification of Proposed Rate Increases for Long-term Care Policies
Fiscal Note for Bill as Engrossed with:
C "A" (H-25)
Committee: Health Coverage, Insurance and Financial Services
             
Fiscal Note
FY 2019-20 FY 2020-21 Projections  FY 2021-22 Projections  FY 2022-23
Appropriations/Allocations
Other Special Revenue Funds $11,100 $14,800 $14,800 $14,800
Fiscal Detail and Notes
The bill includes Other Special Revenue Funds allocations to the Department of Professional and Financial Regulation 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.