For companies (which can be extrapolated to individual plans):

The direct costs of providing contraception as part of a health insurance plan are very low and do not add more than approximately 0.5 percent to the premium costs per adult enrollee, as per studies from three actuarial firms-Buck Consultants, PriceWaterhouseCoopers (PwC), and the Actuarial Research Corporation (ARC)-which estimated the direct costs of providing contraception coverage.

More recent analysis of actuarial data conducted in July 2011 by the Actuarial Research Corporation and using data from 2010 estimated that contraceptive coverage without a co-pay costs roughly $26 per year per enrolled female.

However, notes HHS, "as indicated by the empirical evidence described above, these direct estimated costs overstate the total premium cost of providing contraceptive coverage."

When medical costs associated with unintended pregnancies are taken into account, including costs of prenatal care, pregnancy complications, and deliveries, the net effect on premiums is close to zero. One study author concluded, "The message is simple: regardless of payment mechanism or contraceptive method, contraception saves money.

Counting indirect costs-such as time away from work and productivity losses-further reduces the total cost to an employer.

A model developed by Global Health Outcomes that incorporates costs of contraception, costs of unintended pregnancy, and indirect costs found that covering contraception saves employers $97 per year per employee. Similarly, the PwC actuaries state that after all effects are taken into account, providing contraceptive services is "cost-saving."

Before GWB, Ann Richards was governor in 1995.  The state has only had 4 republican governors since the Civil War, Perry and GWB being two of them.

Nowhere near impossible IMO, unlikely but possible.