To Authorize The Introduction Of A Nonappropriation Bill To Establish A Funding Mechanism To Ensure Solvency Of The State And Public School Life And Health Insurance Program.
Impact
If enacted, HR1003 would amend Arkansas Code Title 21, Chapter 5, by adding a new section detailing requirements for maintaining a reserve balance that informs the rate-setting for insurance premiums. The introduction of the mandatory reserve balance will directly impact the financial management of health insurance plans for state and public school employees, with the intent to provide more consistent and affordable health benefits. The bill also includes stipulations for actions to take if the reserve balance falls below acceptable levels.
Summary
House Resolution 1003 aims to establish a funding mechanism to ensure the solvency of the State and Public School Life and Health Insurance Program in Arkansas. It introduces a mandatory reserve balance that the Director of the Employee Benefits Division must maintain, aiming for an optimal reserve balance of 14% to moderate the effects of premium rate increases and decreases on program members. The resolution emphasizes the urgent need for a sustainable funding approach to support health benefits for state and public school employees.
Contention
Debate around HR1003 could potentially center on the implications of mandated reserve balances and its enforceability. Supporters might argue that a stable reserve ensures the program's long-term viability and protects employees from unexpected premium hikes. In contrast, critics may raise concerns regarding the implications on funding allocations and whether such mandates might lead to cost-cutting measures affecting employee coverage. Furthermore, the declared emergency clause in the bill suggests a perceived immediate need for such measures in light of current challenges in providing affordable healthcare to public employees.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Revenue Stabilization Law, To Create Funds, To Repeal Funds, And To Make Transfers To And From Funds And Fund Accounts.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Revenue Stabilization Law, To Create Funds, To Repeal Funds, And To Make Transfers To And From Funds And Fund Accounts.
To Authorize The Introduction Of A Nonappropriation Bill Amending The Revenue Stabilization Law, Creating Funds, Repealing Funds, And Making Transfers To And From Funds And Fund Accounts.
To Authorize The Introduction Of A Nonappropriation Bill Amending The Revenue Stabilization Law, Creating Funds, Repealing Funds, And Making Transfers To And From Funds And Fund Accounts.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.