SENIOR HLTH INS COMMISSION
Synopsis of Bill as introduced:
Creates the Senior Health Insurance Coverage Commission Act.
Provides for a Senior Health Insurance Coverage Commission consisting
of the State Treasurer, State Comptroller, Director of Insurance, and
18 persons appointed by the Governor and confirmed by the Senate to
provide for health insurance for persons age 62 or older whose income
is less than $10,000 per year. Authorizes the Commission to charge
premiums for the coverage and to impose an annual privilege fee on
insurers and pharmaceutical companies to pay for the coverage.
Creates the Senior Health Insurance Coverage Fund, a special fund in
the State Treasury. Sets forth the powers of the Commission.
Effective July 1, 1997.
FISCAL NOTE (Dept. of Insurance)
Based on the establishment of the CHIP plan: yearly administra-
tive costs could run as high as $100,000 and current subsidies,
covering the difference between policyholder premiums and the
cost of coverage, cost the State $17 million GRF annually.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
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