SB 0858 Summary

• Appropriates $67,971,900 gross for the Department of Insurance and Financial Services for fiscal year ending September 30, 2019, including 6.0 unclassified and 336.5 classified full-time positions.

• Allocates funds across four main sections: Department Services ($7,093,700), Insurance and Financial Services Regulation ($58,226,300), Information Technology ($2,251,900), and one-time appropriations for Insurance Evaluation Enhancement ($400,000).

• Establishes $65,240,800 in total state spending from state resources with $0 to local units of government; funding sources include special revenue funds from bank fees, insurance licensing fees, credit union fees, and other regulatory fees.

• Requires the department to submit annual reports on health insurance rate filings by September 30 and out-of-state travel by January 1; prohibits out-of-state travel unless meeting specified conditions including legal mandate, health/safety necessity, or federal compliance.

• Directs department to complete actuarial study by January 31, 2019 supporting pursuit of a federal Section 1332 state innovation waiver under the Affordable Care Act, with comprehensive coverage and deficit-neutral requirements.