132nd MAINE LEGISLATURE
LD 467 LR 851(02)
An Act to Require the State to Pay Medicare Part B Premiums for Certain Retired State Employees
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Labor
Fiscal Note Required: Yes
             
Fiscal Note
FY 2025-26 FY 2026-27 Projections  FY 2027-28 Projections  FY 2028-29
Net Cost (Savings)
General Fund $0 $1,524,652 $1,524,652 $1,524,652
Highway Fund $0 $530,314 $530,314 $530,314
Appropriations/Allocations
General Fund $0 $1,524,652 $1,524,652 $1,524,652
Highway Fund $0 $530,314 $530,314 $530,314
Fiscal Detail and Notes
The State Employee Health Plan's first impacted plan year will be fiscal year 2026-27 and is estimated to cost $3,314,460 annually thereafter. The costs are split across the General Fund ($1,524,652), Highway Fund ($530,314) and all other funds ($1,259,495). This bill includes ongoing General Fund appropriations of $1,524,652 and ongoing Highway Fund allocations of $530,314 beginning in fiscal year 2026-27 to the State Employee Health Plan to provide 100% coverage of certain retired state employees' shares of Medicare Part B premiums for retirees not eligible for benefits under the United States Social Security Act whose base annual pension benefit is projected to be less than or equal to the maximum amount of the retirement benefits that is subject to the cost-of-living adjustment effective January 1, 2026.