LD 686
pg. 1
LD 686 Title Page Resolve, Directing the Bureau of Insurance To Determine the Costs of All Existi... LD 686 Title Page
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LR 765
Item 1

 
Sec. 1. Bureau of Insurance Report. Resolved: That the Department of
Professional and Financial Regulation, Bureau of Insurance
shall determine the individual and cumulative cost impact of
all existing mandated health insurance benefit laws that are
enacted through the end of the First Regular Session of the
121st Legislature on health insurance premiums paid by private
individuals and businesses and by the State for coverage of
state employees and retirees. In determining the cost of
mandated benefits, the bureau shall evaluate the financial
impact, the social impact and the medical efficacy of each
mandated benefit required by state law in accordance with the
Maine Revised Statutes, Title 24-A, section 2752. The bureau
shall also include a comparison of the projected cost impact
of each mandated benefit prior to enactment as required by
Title 24-A, section 2752 and the actual cost impact of each
mandated benefit based on premium information after enactment.
The bureau shall contract for any necessary consulting and
actuarial expertise to complete a report within the bureau's
existing resources. The bureau shall submit its report
determining the cost impact of all mandated health insurance
benefits to the Joint Standing Committee on Insurance and
Financial Services by January 15, 2004; and be it further

 
Sec. 2. Committee to report out legislation. Resolved: That the Joint
Standing Committee on Insurance and Financial Services may
report out legislation to the Second Regular Session of the
121st Legislature that proposes to repeal existing mandated
benefits based on the cost impact described in the bureau's
report.

 
SUMMARY

 
This resolve requires the Department of Professional and
Financial Regulation, Bureau of Insurance to determine the
cumulative cost impact of existing mandated health insurance
benefits on the premiums paid for health insurance coverage by
individuals, businesses and the State. This resolve requires
the bureau to submit a report to the Joint Standing Committee
on Insurance and Financial Services by January 15, 2004. The
resolve also requires the committee to report out legislation
based on the bureau's report.


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