I was cleaning the boat last night and noticed a small hose with a plastic fitting on the bottom hanging there. I looks at the other drive and the plastic thing snaps in in the middle of the drive at the back side. I popped it back in. is this anything to be concerned about?

No need to be alarmed.

Just the hose for your "in drive" pitot tube (AKA speedometer pickup).

Mark

Yes, sounds like speedo tube. Often gets torn off when a drive is removed. It goes in a hole on top of the cavitation plate at the front of the drive wiggle it around until it goes all the way in then about a 1/2 turn clockwise to lock it. Sometimes when these tubes get loose, the drive cuts them when it is lowered all the way, you can patch them with a vacuum tube connector and two small tie-wraps.