Connecticut House Bill HB06516

Connecticut 2013 Regular Session

• Introduced: 2/27/13
• Refer: 2/27/13

Caption

An Act Implementing The Recommendations Of The Legislative Program Review And Investigations Committee Concerning The Assessment Methodology For The Expenditures Of The Insurance Department And The Office Of The Healthcare Advocate.

Impact

The bill modifies existing sections of the general statutes, particularly sections 38a-51 and 38a-48. By mandating that the Insurance Commissioner supply comprehensive cost documentation to insurance companies, it establishes a more structured approach to the assessment process. This will potentially lead to a more equitable distribution of costs among insurance companies based on clearer criteria, ultimately affecting their financial obligations to the state.

Summary

House Bill 06516 seeks to implement recommendations from the Legislative Program Review and Investigations Committee regarding the assessment methodology for expenditures related to the Insurance Department and the Office of the Healthcare Advocate. The bill aims to enhance the transparency and accountability of the assessment process by requiring the Insurance Commissioner to provide detailed statements to domestic insurance companies concerning proposed assessments. These statements will include a breakdown of costs associated with examinations and valuations, as well as the effect of any recouped amounts on the assessments.

Contention

While the bill appears to streamline the assessment process and bring greater clarity, potential points of contention may arise from the insurance companies regarding the fairness of the proposed assessments. Companies that perceive the assessments as burdensome might oppose the bill's implementation, advocating for modifications that better consider their financial capabilities. The overarching goal of the bill, however, remains focused on improving the fiscal accountability of the Insurance Department and ensuring the sustainability of operations for the Office of the Healthcare Advocate.