(1)The director of the department of administration shall charge each office, department, division, board, commission, institution, agency and operation, personnel of which is currently covered under one or more group plans administered by the director, and receive payment in advance for its properly apportioned share of the cost thereof. To the amount otherwise so found due for payment of premiums and prepayments for coverages, the director shall add a separately stated administrative contribution of such percentage, rate, or proportionate amount as may reasonably be required to pay the costs of maintaining the office of group insurance, including personnel costs, operating expenditures, and expenditures for capital outlay items. The director shall allocate the apportioned share of the r
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(1) The director of the department of administration shall charge each office, department, division, board, commission, institution, agency and operation, personnel of which is currently covered under one or more group plans administered by the director, and receive payment in advance for its properly apportioned share of the cost thereof. To the amount otherwise so found due for payment of premiums and prepayments for coverages, the director shall add a separately stated administrative contribution of such percentage, rate, or proportionate amount as may reasonably be required to pay the costs of maintaining the office of group insurance, including personnel costs, operating expenditures, and expenditures for capital outlay items. The director shall allocate the apportioned share of the reasonable costs of administering this act to each participating state unit in the same proportion that the amount of employees of the unit, excluding temporary or part time, bears to the total number of employees, excluding temporary or part time, of all combined units covered by this act.
(2) As to a particular office, department, division, board, commission, institution, agency or operation, such charges and payments shall not exceed the sum of (a) appropriated funds currently available for the purpose, and (b) amounts currently deducted from the salaries and other compensation of covered personnel specifically for the insurance or coverage. On or before the first day of August of each year, the director shall furnish each department with an estimate of the cost of insurance or coverage for the upcoming fiscal year.
(3) Refunds on premiums or prepayments, profit sharing, experience savings and refunds and other contract returns received by the director on account of group policies and group contracts shall be retained by the director and used for application upon future premiums and prepayments as equitably apportioned by the director.
(4) Moneys received by the director under this section shall be deposited to the credit of the group insurance account in the agency asset fund, and are hereby continually appropriated for the uses for which charged and received, or as stated in subsection (3) of this section. Pending such use, such surplus moneys shall be invested by the state treasurer in the same manner as provided for under section 67-1210, Idaho Code, with respect to other idle moneys in the state treasury. All interest or other yield on such investments shall be credited to the respective group insurance account.