SB 0883 - Fiscal Note

Fiscal Note - SB 0883 - Regulation of Medicare Supplement Insurance

L.R. NO.  3290-02
BILL NO.  Truly Agreed To and Finally Passed SB 883
SUBJECT:  Insurance-Medical, Medicare Supplement Insurance
TYPE:     Original
DATE:     April 17, 1996



                              FISCAL SUMMARY
                    ESTIMATED NET EFFECT ON STATE FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

None

Total Estimated
Net Effect on All
State Funds                     $0                  $0                $0

                   ESTIMATED NET EFFECT ON FEDERAL FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

None

Total Estimated
Net Effect on All
Federal Funds                   $0                  $0                $0

                    ESTIMATED NET EFFECT ON LOCAL FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

Local Government                $0                  $0                $0



                             FISCAL ANALYSIS

ASSUMPTION

Officials of the Department of Insurance (INS), Department of Corrections
(DOC), Department of Conservation (MDC), Office of Administration (OA),
Department of Public Safety (DPS)-Missouri State Highway Patrol (MHP),
Department of Health (DOH), Department of Social Services (DOS), Consolidated
Health Care Plan (HCP), and the Department of Highway and Transportation
(DHT) reported this proposal would not fiscally impact their agencies.



FISCAL IMPACT - State Government FY 1997   FY 1998   FY 1999


                                      $0        $0        $0

FISCAL IMPACT - Local Government FY 1997   FY 1998   FY 1999


                                      $0        $0        $0


DESCRIPTION

This legislation is necessary for the Department of Insurance to be in
compliance with the Omnibus Reconciliation Act of 1990 and the National
Association of Insurance Commissioners (NAIC) standards as dictated by
Section 376.886, RSMo, the bill provides for an open enrollment period for
the disabled when they first become eligible for Part B Medicare and adds
disclosure requirements that apply to products that may duplicate Medicare
Supplemental coverage.  Without this legislation, regulation of Medicare
Supplemental policies would revert to the federal government. This act has an
emergency clause.

This legislation is federally mandated, would not duplicate any other program
and would not require additional capital improvements or rental space.


SOURCES OF INFORMATION

Department of Insurance
Department of Corrections
Department of Conservation
Department of Public Safety
Department of Health
Department of Social Services
Office of Administration
Department of Highway and Transportation
Consolidated Health Care Plan