senate Bill S4290A

Provides that written notice of premium rate changes be given not less than sixty days prior to the effective date of such rate changes

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 19 / Mar / 2013
    • REFERRED TO INSURANCE
  • 08 / Jan / 2014
    • REFERRED TO INSURANCE
  • 31 / Jan / 2014
    • AMEND AND RECOMMIT TO INSURANCE
  • 31 / Jan / 2014
    • PRINT NUMBER 4290A

Summary

Provides that written notice of premium rate changes be given not less than sixty days prior to the effective date of such rate changes.

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Bill Details

See Assembly Version of this Bill:
A331A
Versions:
S4290
S4290A
Legislative Cycle:
2013-2014
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยง3221, Ins L
Versions Introduced in Previous Legislative Cycles:
2011-2012: S7316, A1247A
2009-2010: A7186, A7186

Sponsor Memo

BILL NUMBER:S4290A

TITLE OF BILL: An act to amend the insurance law, in relation to
providing written notice of premium rate changes not less than sixty
days prior to the effective date of such rate changes

PURPOSE OR GENERAL IDEA OF BILL:

Provides that written notice of premium rate changes be given not less
than sixty days prior to the effective date of such rate changes.

SUMMARY OF SPECIFIC PROVISIONS:

At the time of coverage renewal, an insurer may modify the health insur-
ance coverage for a group or blanket policy offered to a large, or small
group of policyholder so long as such modification is consistent with
this chapter and effective on a uniform basis among all small group
policyholders with that policy form.

JUSTIFICATION:

This will assist policyholders and individuals with financial planning.
It will also help with advance planning for employers who offer group
health plans for their employees.

PRIOR LEGISLATIVE HISTORY:

2013 - S .4290/A.331-A - INSURANCE/Insurance
2012 - S.7316/A.1247--INSURANCE/Insurance
2010 - A7186 -- Insurance

FISCAL IMPLICATIONS:

To be determined.

EFFECTIVE DATE:

This act shall take effect the first of January next succeeding the date
on which it shall have become a law.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 4290--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 19, 2013
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee on Insurance  --  recom-
  mitted to the Committee on Insurance in accordance with Senate Rule 6,
  sec.  8  --  committee  discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the insurance law,  in  relation  to  providing  written
  notice  of  premium rate changes not less than sixty days prior to the
  effective date of such rate changes

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph 4 of subsection (p) of section 3221 of the insur-
ance  law,  as  added  by chapter 661 of the laws of 1997, is amended to
read as follows:
  (4) At the time of coverage renewal, an insurer may modify the  health
insurance  coverage  for a group or blanket policy offered to a large or
small group policyholder so long as such modification is consistent with
this chapter and effective on a uniform  basis  among  all  small  group
policyholders  with  that  policy  form;  PROVIDED, HOWEVER, THE INSURER
SHALL PROVIDE WRITTEN NOTICE TO ALL POLICYHOLDERS TO WHICH THE  MODIFIED
POLICY  SHALL  BE  OFFERED  OF ANY CHANGE IN PREMIUM RATES NOT LESS THAN
SIXTY, BUT NOT MORE THAN ONE HUNDRED TWENTY, DAYS PRIOR TO THE EFFECTIVE
DATE OF SUCH RATES.
  S 2. This act shall take effect the first of January  next  succeeding
the date on which it shall have become a law.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00224-02-4

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