senate Bill S5695

Amended

Relates to extending the effectiveness of a health insurance demonstration program for early retirees

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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

  • 05 / Jun / 2013
    • REFERRED TO INSURANCE
  • 12 / Jun / 2013
    • AMEND (T) AND RECOMMIT TO INSURANCE
  • 12 / Jun / 2013
    • PRINT NUMBER 5695A
  • 20 / Jun / 2013
    • COMMITTEE DISCHARGED AND COMMITTED TO RULES
  • 20 / Jun / 2013
    • ORDERED TO THIRD READING CAL.1502
  • 20 / Jun / 2013
    • SUBSTITUTED BY A7735A

Summary

Relates to extending the effectiveness of a health insurance demonstration program for early retirees and to the approval process of eligible insurers.

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Bill Details

See Assembly Version of this Bill:
A7735
Versions:
S5695
S5695A
Legislative Cycle:
2013-2014
Law Section:
Insurance
Laws Affected:
Amd §2, Chap 362 of 2012; amd §1123, Ins L

Sponsor Memo

BILL NUMBER:S5695

TITLE OF BILL: An act to amend chapter 362 of the laws of 2012,
amending the insurance law relating to a health insurance
demonstration program for early retirees, in relation to extending the
effectiveness of the provisions of such chapter

PURPOSE: The purpose of the bill is to extend the Superintendent of
Financial Services' authority to approve a demonstration program to
provide group health insurance coverage for former employees of a
major New York-based employer.

SUMMARY OF PROVISIONS: This bill would extend, from December 31, 2013
to December 31, 2014, the Superintendent of Financial Services'
authority to approve a health insurance demonstration program under
which an eligible insurance company would provide health insurance to
former employees of a major New York-based employer.

JUSTIFICATION: Today, an increasing number of New Yorkers are losing
employer-based health insurance coverage due to the economy. Some of
these individuals were promised continued coverage by their employer
after retirement. These former employees lack access to
employment-sponsored health insurance coverage, often cannot afford to
purchase coverage in the private pay market, and are not eligible for
Medicare.

Chapter 362 of the Laws of 2012 established a pilot program to meet
the needs of this population, at a reasonable price, while still
requiring the insurer to meet the solvency requirements, benefit
mandates, and other obligations required by state statute and
regulation. In addition, providing this program on a "pilot" basis
affords the Department of Financial Services the ability to assess the
Policy ramifications of this change and the impact on other groups and
the community.

PRIOR LEGISLATIVE HISTORY: New bill.

FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: None noted.

EFFECTIVE DATE: Immediately.

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

                                  5695

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              June 5, 2013
                               ___________

Introduced  by  Sen.  ROBACH -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT to amend chapter 362 of the laws of 2012, amending the  insurance
  law  relating  to  a  health insurance demonstration program for early
  retirees, in relation to extending the effectiveness of the provisions
  of such chapter

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

  Section  1. Section 2 of chapter 362 of the laws of 2012, amending the
insurance law relating to a health insurance demonstration  program  for
early retirees, is amended to read as follows:
  S  2. This act shall take effect immediately and shall expire December
31, [2013] 2014 when upon such date the provisions of this act shall  be
deemed repealed.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11347-01-3

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