Honorable John Frullo, Chair, House Committee on Insurance
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3025 by Farney (Relating to health benefit coverage for prescription drug synchronization.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill would amend the Insurance Code relating to health benefit coverage for prescription drug synchronization.
Based on information provided by the Texas Department of Insurance (TDI), Employees Retirement System, the University of Texas System Administration, Teacher Retirement System, Texas A&M University System Administration, and the Health and Human Services Commission, it is assumed that all duties and responsibilities necessary to implement the provisions of the bill could be accomplished utilizing existing staff and resources.
Also, based on information provided by TDI, this analysis assumes implementation of the bill would result in an increase in filings, which could result in a one-time revenue gain of $39,600 in FY 2016 to be deposited to the credit of General Revenue-Dedicated Texas Department of Insurance Fund 36 (Fund 36). Since Fund 36 is a self-leveling account, this analysis also assumes that any additional revenue resulting from the implementation of the bill would accumulate in account fund balances and TDI would adjust the assessment of the maintenance tax or other fees accordingly in the following year.
The bill takes effect September 1, 2015 but applies only to a health benefit plan that is delivered, issued for delivery, or renewed on or after January 1, 2016.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
323 Teacher Retirement System, 327 Employees Retirement System, 454 Department of Insurance, 529 Health and Human Services Commission, 710 Texas A&M University System Administrative and General Offices, 720 The University of Texas System Administration