Provides for the certification of disability by medical psychologists. (7/1/20) (OR INCREASE APV)
The introduction of SB 444 is expected to have fiscal implications on both retirement systems and Other Post-Employment Benefits (OPEB). The estimated impact indicates a net increase in actuarial costs due to a potential rise in the number of disability certifications. This increase comes from the understanding that some applicants may be certified when previously they were not, simply due to the types of professionals available to perform examinations. Consequently, this could lead to an increase in disability benefits being paid out over time.
Senate Bill 444 aims to expand the framework for disability certification within Louisiana's state and statewide retirement systems by allowing medical psychologists to become members of the State Medical Disability Board. This legislative change is significant as it broadens the pool of qualified professionals who can perform disability examinations and certify disability benefits. This inclusion of medical psychologists not only affects the certification process but potentially increases the number of individuals who may qualify for disability benefits.
The sentiment surrounding SB 444 generally leans positive from proponents who view the inclusion of medical psychologists as a beneficial reform that streamlines the certification process and makes it more accessible. Supporters argue that this change addresses an existing gap in the certification system. On the flip side, there are concerns from some stakeholders regarding the increase in costs associated with expanded disability benefits, which could impact funding for the retirement systems.
Notable points of contention revolve around the potential financial burdens that SB 444 might impose on the retirement systems. Critics suggest that the increased certification of disabilities could lead to budgetary strains, necessitating careful consideration of how these benefits are funded. As the bill progresses, ongoing discussions about the balance between expanding access to benefits and managing the fiscal responsibilities of the state retirement systems are expected to be significant.