Sen. Jay Paul Gumm on Friday announced that another analysis of Nick’s Law shows that the proposal will have a minimal impact on insurance costs.
The Oklahoma State Education Employees Group Insurance Board this week released the findings of their study, which showed an impact to claims of 1 percent or less. Gumm said these findings are in line with those in a comprehensive study by Jim Bouder, which was presented to the Legislature in May.
“What we’re continuing to see over and over again is that the impact on premium costs is around 1 percent,” said Gumm, D-Durant. “It fits perfectly with the study by Jim Bouder, which we presented last year. They attacked his study, they attempted to impeach his credibility because he has a son with autism, but his numbers continue to be confirmed by independent study.”
Jim Bouder’s study indicated the measure would create only a 0.47 percent premium cost increase, roughly a tenth of the current rate of inflation. Gumm said OSEEGIB’s findings call into question the credibility of a House study showing costs increases as high as 20 percent.
“It really calls into question the accuracy of the House study showing such astronomic increases,” Gumm said. “All the studies, done independently and by individuals who don’t have anything to gain from this are showing an impact of around 1 percent.”
“This proposal doesn’t carry the possibility of huge rate increases, and this study removes the final excuse they have for not supporting this legislation.”
OSSEEGIB Memo on Study