senate Bill S5695A

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

download pdf

Sponsor

Bill Status


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

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.

do you support this bill?

Bill Details

See Assembly Version of this Bill:
A7735A
Versions:
S5695
S5695A
Legislative Cycle:
2013-2014
Law Section:
Insurance Law
Laws Affected:
Amd §2, Chap 362 of 2012; amd §1123, Ins L

Sponsor Memo

BILL NUMBER:S5695A

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; and to amend the
insurance law, in relation to superintendent approval of eligible
insurers

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--A

                       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  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

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; and to amend the insurance law, in relation to super-
  intendent approval of eligible insurers

  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. Paragraph 3 of subsection (c) of section 1123  of  the  insurance
law,  as  amended by chapter 453 of the laws of 2010, is amended to read
as follows:
  (3) Any eligible insurer seeking the superintendent's  approval  under
paragraph  two  of this subsection shall submit a written request to the
superintendent [within  thirty  days  of  the  effective  date  of  this
section] PURSUANT TO REGULATIONS PROMULGATED BY THE SUPERINTENDENT.  The
eligible  insurer's application shall: specify the identity and composi-
tion of the eligible association, the eligible association's  membership
rules,  and  the  terms  under  which the eligible insurer shall provide
group health insurance to the eligible association; demonstrate that the
eligible insurer and the eligible association meet the requirements  set
forth  in  this  section; and identify the group health insurance policy
forms that the eligible insurer will issue to the eligible  association.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11347-03-3

S. 5695--A                          2

The  superintendent  shall  make  a  determination on any request within
ninety days of receipt of all necessary information.  The superintendent
shall issue an approval to only one eligible insurer.
  S  3.  This act shall take effect immediately; provided, however, that
the amendments to paragraph 3 of subsection (c) of section 1123  of  the
insurance  law  made  by  section  two  of this act shall not affect the
repeal of such section and shall be deemed repealed therewith.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.