Both chambers of the Arkansas Legislature on Thursday approved four bills apiece that would make changes in state laws about the governing, financing and other matters regarding the state's health insurance plans that cover more than 100,000 current and retired public school and state employees.
The eight bills largely reflect the recommendations of the consulting firm The Segal Group that the Legislative Council approved on Nov. 19. The firm's recommendations are aimed at stabilizing funding and cutting costs for the two health insurance plans.
The action on these bills came in the fourth day of the Arkansas General Assembly's fiscal session.
The Senate voted 33-0 to approve Senate Bill 86 by Senate President Pro Tempore Jimmy Hickey, R-Texarkana, which would require the director of the state's Employee Benefits Division to aim for an optimal reserve balance of 14% of expenses to ensure the solvency of each plan, beginning in plan year 2023.
Under the bill, if the division's director determines the amount of revenue collected by the division is not projected to equal or exceed the acceptable reserve balance amount of 12% of expenses for a plan in a plan year, the director would be required to notify the Legislative Council of the need to convene to consider providing more funding.
If more funding is needed to maintain the acceptable reserve balance, the Legislative Council may recommend the governor call a special session of the Legislature or take further action as may...
The presidency has denied claims of withholding 250 billion in Nigeria LNG Limited (NLNG) dividends for each state in the country. At the 2027 Budget Stakeholders’ Consultative Engagement held at...