|
|
|
|
|
|
|
|
131st MAINE LEGISLATURE |
|
|
LD 112 |
|
LR 207(02) |
|
|
|
An Act to
Increase the State's Share of Retired Teacher Health Insurance |
|
Fiscal Note for
Bill as Amended by Committee Amendment " " |
|
Committee: Labor and Housing |
|
Fiscal Note Required: Yes |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fiscal Note |
|
|
|
|
|
|
|
|
|
|
FY 2023-24 |
FY 2024-25 |
Projections FY 2025-26 |
Projections FY 2026-27 |
| Net Cost
(Savings) |
|
|
|
|
|
|
General Fund |
|
$3,268,715 |
$6,828,304 |
$7,132,119 |
$7,449,453 |
|
|
|
|
|
|
|
| Appropriations/Allocations |
|
|
|
|
|
|
General Fund |
|
$3,268,715 |
$6,828,304 |
$7,132,119 |
$7,449,453 |
|
|
|
|
|
|
|
| Fiscal Detail
and Notes |
|
|
|
|
|
|
The bill includes
ongoing General Fund appropriations of $3,268,715 in fiscal year 2023-24 and
$6,828,304 in fiscal year 2024-25 to the Retired Teachers' Health Insurance
Program within the Department of Education for the costs associated with
increasing the State's contribution to the retired teachers' cost of health
insurance premiums from 55% to 60% in fiscal year 2023-24 and from 60% to 65%
in fiscal year 2024-25. The estimated
cost of this bill, provided by the Office of Employee Health and Benefits,
assumes an average increase in premiums of 4.45% per year. The total cost of this provision over time
will depend on actual health premium cost inflation and the number of retired
teachers in the future. |
|
|
|
|
|
|
|