West Virginia Code 5-16-26 – Quarterly report
On or before the 30th day of January, April, July, and October the director shall prepare for the approval of the finance board, and thereafter present to the Joint Committee on Government and Finance a quarterly report setting forth:
Terms Used In West Virginia Code 5-16-26
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Director: means the Director of the Public Employees Insurance Agency created by this article. See West Virginia Code 5-16-2
- Employee: means any person, including an elected officer, who works regularly full-time in the service of the State of West Virginia. See West Virginia Code 5-16-2
- Employer: means the State of West Virginia, its boards, agencies, commissions, departments, institutions, or spending units. See West Virginia Code 5-16-2
- Finance board: means the Public Employees Insurance Agency finance board created by this article. See West Virginia Code 5-16-2
- Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
- Plan: means a group hospital and surgical insurance plan or plans, a group prescription drug insurance plan or plans, a group major medical insurance plan or plans, and a group life and accidental death insurance plan or plans. See West Virginia Code 5-16-2
(a) A summary of the cost to the plan of health care claims incurred in the preceding calendar quarter;
(b) A summary of the funds accrued to the plan by legislative appropriation, employer and employee premiums, or otherwise, in the preceding calendar quarter for payment of health care claims;
(c) An explanation of all cost containment measures, increased premium rates, and any other plan changes adopted by the director in the preceding calendar quarter and estimated cost savings and enhanced revenues resulting therefrom, and a certification that the director made a good faith effort to develop and implement all reasonable health care cost containment alternatives;
(d) Expected claim costs for the next calendar year;
(e) Such other information as the director deems appropriate; and
(f) Any other financial or other information as may be requested by the Joint Committee on Government and Finance.