OMB29-888(3-24-14)

OMB29-888(3-24-14).doc

Insurance Deduction Authorization (For Deduction From Benefit Payments) (29-888)

OMB: 2900-0024

Document [doc]
Download: doc | pdf

SUPPORTING STATEMENT

VA FORM 29-888

INSURANCE DEDUCTION AUTHORIZATION

2900-0024


JUSTIFICATION:

1. This form is used by insureds to authorize the Department of Veterans Affairs (VA) to make deductions from benefit payments to pay premiums, loans and/or liens on his/her insurance contract. The information requested is authorized by law, 38 CFR 8.8.


The 30-day FRN indicated this was an extension, however the minor revision to the form makes it a revision. . The expiration date is being added to the form.


2. This form is used by the insured or their representative to authorize VA to deduct money from the insured’s VA compensation check. The deduction from the compensation check can pay the premium, loan and/or lien on the insurance. The authorization will remain in effect as long as the monthly benefit payment is enough to pay the monthly premium, and/or loan, and/or lien payment.


3. VA Form 29-888 is available on the One-VA web site in a fillable electronic format. VBA is currently hosting this form on a secure server and does not currently have the technology in place to allow for the complete submission of the form. Validation edits are performed to assure data integrity. Efforts within VA are underway to provide a mechanism to allow the information to be submitted electronically with a recognized signature technology. There currently is no utility process in place that will allow the data submitted on the form to be incorporated with an existing centralized legacy database.


4. The information is not contained in any other VA records. Similar information is not available elsewhere.


5. The information does not involve any small businesses.


6. This form is designed for use by the insured to authorize deduction from benefits payments.


7. There are no special circumstances requiring that the collection of information be conducted in a manner inconsistent with the guidelines in 5 CFR Section 1320.6.


8. The Department notice was published in the Federal Register on December 17, 2013, Volume 78, No. 242, Pages 76410-76411. There are no persons outside the Department of Veterans Affairs with whom the material submitted was discussed. There were no public contacts. The information does not involve obtaining information from any State or local Government. There is no person or organization other than VA that will collect the information which is submitted by the insured. No comments were received in response to this notice.


9. The information collected is supplied by the respondent. No remuneration is made.


10. The information collection conforms with the Privacy Act of 1974 and is subject to the conditions of disclosure contained therein. The records are maintained in the system identified as 36VA00, “Veterans and Armed Forces Personnel United States Government Life Insurance Records - VA” as contained in the Privacy Act Issuances, 1993 Compilation.


11. There are no questions of a sensitive nature.


12. Estimate of Information Collection Burden


We arrived at this estimate by initiating a trial with a VA staff member unfamiliar with the forms.


a. Number of Respondents: 3,732


b. Frequency of Response: On occasion


c. Annual Burden Hours: 622 hours


d. Estimated Completion Time: 10 Minutes


e. According to the U.S. Bureau of Labor Statistics Average Hourly Earnings, the cost to the respondent is $24, making the total cost to the respondents an estimated $14,928. (622 burden hours x $24 per hour).


13. This submission does not involve any record keeping costs.


14. Cost to Government:


$3,355.00 Estimated mailing cost (3,732 X 2 minutes per

form X $15.51/hour (average salary for station

mail personnel) plus 3,732 X 38.2 cents each

(presort discount)).


$1,739.00 Estimated cost for collections (3,732 X 2 minutes

per X $13.98/hour (average salary of station collections

personnel)).


$18,501.00 Estimated cost for processing (3,732 forms X 15

minutes per form X $19.83/hour (average salary

for reviewers)).


$120.00 Estimated printing costs (4,000 X $30/1,000 forms).


$23,715.00 Total cost to the Government.


$9,330.00 Cost to reporting public (622 hours X $15/hour).


15. There is no change in respondent burden. The expiration date is being added to the form.


16. The information is collected for insurance purposes only and there are no plans for publication.


17. We are not seeking approval to omit the expiration date for OMB approval.


18. This submission does not contain any exceptions to the certification statement.


B. Collection of Information Employing Statistical Methods


This collection of information does not employ statistical methods.

File Typeapplication/msword
File TitleSUPPORTING STATEMENT
AuthorVeterans Benefits Administrat
Last Modified ByBolyard, Dottie, VBAVACO
File Modified2014-03-24
File Created2014-03-24

© 2024 OMB.report | Privacy Policy