LD 1305 LR 956(03)
An Act To Encourage Health Insurance Consumers To Comparison Shop for Health Care Procedures and Treatment
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Insurance and Financial Services
Fiscal Note Required: Yes
Fiscal Note
Potential future biennium savings - All Funds
Fiscal Detail and Notes
This bill requires, beginning January 1, 2018, that all carriers offering a health plan in the State shall provide a shared savings program. Any savings would accrue to carriers, participants and eventually the State through lower premiums. The amount of savings will depend on the specific details of each shared savings plan and the participant response to the plan. No savings can be determined at this time.
Any additional costs to the Department of Professional and Financial Regulation from the provisions of this bill are expected to be minor and can be absorbed within existing budgeted resources.