Bill Text: NH SB345 | 2014 | Regular Session | Amended
Bill Title: Repealing the prospective repeal of the annual public hearing and report on health insurance costs and trends.
Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: (Passed) 2014-07-23 - Signed by the Governor on 07/22/2014; Chapter 0254; Effective 07/22/2014 [SB345 Detail]
Download: New_Hampshire-2014-SB345-Amended.html
SB 345 – AS AMENDED BY THE HOUSE
03/13/14 0866s
23Apr2014… 1372h
2014 SESSION
01/04
SENATE BILL 345
AN ACT repealing the prospective repeal of the annual public hearing and report on health insurance costs and trends.
SPONSORS: Sen. Fuller Clark, Dist 21; Sen. Gilmour, Dist 12; Sen. Stiles, Dist 24; Rep. Muns, Rock 21; Rep. Harding, Graf 13; Rep. Rosenwald, Hills 30
This bill repeals the prospective repeal of the annual public hearing and report on health insurance costs and trends.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
03/13/14 0866s
23Apr2014… 1372h
14-2750
01/04
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Fourteen
AN ACT repealing the prospective repeal of the annual public hearing and report on health insurance costs and trends.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Repeal. 2010, 240:3 and 240:4, II, relative to the prospective repeal of the annual public hearing and report on health insurance costs and trends, are repealed.
2 Effective Date. This act shall take effect upon its passage.
LBAO
14-2750
Amended 05/01/14
SB 345 FISCAL NOTE
AN ACT repealing the prospective repeal of the annual public hearing and report on health insurance costs and trends.
FISCAL IMPACT:
The Insurance Department states this bill, as amended by the House (Amendment #2014-1372h), will increase state restricted revenue and expenditures by $250,000 in FY 2015, $256,250 in FY 2016, $262,656 in FY 2017 and $269,223 in FY 2018. There is no impact on county and local revenue and expenditures.
METHODOLOGY:
The Insurance Department states this bill requires the Department to prepare an annual report concerning premium rates in the health insurance market and prohibits carriers from charging different premiums for identical health care plans. The Department states it will need to hire a consultant to prepare the required annual report. The Department estimates the cost of the consultants at $250,000 in FY 2015 increasing by 2.5 percent each year thereafter for an approximate cost of $256,250 in FY 2016, $262,656 in FY 2017 and $269,223 in FY 2018. Revenue for the Department’s operating budget comes from assessments on insurance companies. The Department does not anticipate the increased cost related to the annual report will impact premium rates.
