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Insurance director cites PBM enforcement, high‑risk reinsurance and wildfire pressures in JFAC budget hearing
Summary
Department of Insurance Director Dean Cameron told JFAC on Jan. 21 that the agency is collecting pharmacy benefit manager data, processing numerous complaints, and proposing staff and equipment additions while warning that wildfire losses and rising reinsurance costs are tightening the property insurance market.
The Idaho Department of Insurance outlined its budget, staffing requests and market concerns to the Joint Finance Appropriations Committee on Jan. 21, telling lawmakers the agency is handling new pharmacy benefit manager (PBM) reporting requirements, expanding actuarial work and addressing wildfire‑related insurance market stress.
Noah Peterson, budget and policy analyst with the legislative services office, presented the department’s request and funding history, noting the agency has 75.5 approved full‑time positions and that FY24 reversions totaled “just under $2,200,000,” split between personnel and operating expenditures. Peterson identified four enhancement requests for fiscal 2026, including a staff actuary (1 FTP, $201,900 ongoing with a $3,000 one‑time equipment request), a regulatory compliance specialist reported at $41.03 per hour (80% of policy, pay grade O), an…
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