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2018 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Bloxom
HB 583 Virginia Health Reinsurance Association

Item 481 #2h

Item 481 #2h

 First Year - FY2019 Second Year - FY2020
Independent Agencies
State Corporation Commission FY2019 $400,000 FY2020 $400,000 GF

Language
Page 427, line 5, strike "$201,278" and insert "$601,278".
 Page 427, line 5, strike "$201,278" and insert "$601,278".

Page 427, after line 13, insert:

"B. There is hereby appropriated to the State Corporation Commission an amount not to exceed $400,000 the first year and $400,000 the second year from the general fund to pay for the Virginia Health Reinsurance Association authorized in House Bill 583 of the 2018 General Assembly Session. The Commission shall reimburse the general fund for the Association activities performed by the Association as part of the state Reinsurance program. The Commission shall reimburse the general fund only for those funds that have been reimbursed by the Federal Government pursuant to the approved state innovation waiver."

Explanation

(This amendment provides $400,000 from the general fund each year to reflect the enactment of House Bill 583 of the 2018 General Assembly Session which creates the Premium Security Plan to stabilize premiums for individual health benefit plans sold on the exchange. The $400,000 estimate is a place older until the FIS is developed for House Bill 583.)

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