Federal Register - August 27, 2021
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Source: Federal Register
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Federal Register / Vol. 86, No. 164 / Friday, August 27, 2021 / Proposed Rules
Total Cost Savings to Industry Using a 7-percent discount rate, we estimated the annualized cost savings for this proposed rule as $20,908 and the 10-year total as $146,847. We
obtained this value by adding the yearly cost savings associated with the number of medical certificate applications not submitted in a given period a t and the number of medical certificate
applications not delivered to the Coast Guard in a given period b t. We present these industry cost-savings amounts, discounted at 7 percent and 3
percent, in table 9.
Table 9. Total Industry Cost Savings
Year
U ndiscounted Mail Submission a,
U ndiscounted In Person Submission b t
U ndiscounted Industry Savings c ,
Discounted 7%
Discounted 3%
1
2
3
4
5
6
7
8
9
10
$1 671
$1 663
$1 655
$1 631
$1,624
$1,616
$36.274
$36.100
$35.928
$35.414
$35,245
$35,076
$37.945
$37.763
$37.583
$37.046
$36,868
$36,692
$30 975
$28 810
$26 796
$21 561
$20,054
$18,652
$34 725
$33 552
$32 419
$29 244
$28,256
$27,302
Total Averaee Annualization
$9 860
$1,643
$214 037
$35,673
$223.897
$37,316
$146.847
$24,475
$20,908
$185 499
$30,917
$21,746
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Table 10 illustrates the following methodology to calculate the cost savings to the government. We first estimated the reduction in hours associated with the reduction in medical certificate application submission previously discussed. We estimated the reduction in hours as the product of the reduction in medical certificate applications and the estimated time it would take a GS13
employee at the NMC to process an application for a mariner medical certificate. Using medical certificate application information records obtained from NMC medical evaluation
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staff, we estimated that the time needed to evaluate a medical certificate application is approximately 10
minutes, or 0.166 hours 10 60 = 0.166
hours.
Using the loaded hourly wage rate of $94.03 for a GS13 employee, we estimated that the government would save $15.98 $94.03 0.17 hour on each application it would no longer have to evaluate. The annual reduction in the number of medical certificate applications for the proposed rule is the product of the number of applications the government will no longer have to review and the hours saved by not having to review an additional medical application. Therefore, d t = a t
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0.166 hrs. On average, the government would save 299 hours annually under the proposed rule.
Next, we estimated the total undiscounted government cost savings in a given year. We calculated this as the product of the estimated loaded hourly wage rate for a GS13 employee, $94.03, and the yearly reduction in hours. This captures the difference in the medical certificate applications under current regulations and the proposed rule. On average, the government would save $18,444
annually under this proposed rule, discounted at 7 percent, as presented in table 10.
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Government Cost Savings
