Assembly Bill A10753

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

                                  10753

                          I N  A S S E M B L Y

                              June 18, 2012
                               ___________

Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Gabryszak)
  -- read once and referred to the Committee on Insurance

AN ACT to amend the insurance law, in relation to lowering the  percent-
  age amount required to be kept in a health benefit plan reserve fund

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

  Section 1. Paragraph 1 of subsection (a) of section 4706 of the insur-
ance law, as added by chapter 689 of the laws of  1994,  is  amended  to
read as follows:
  (1)  a reserve for payment of claims and expenses thereon reported but
not yet paid, and claims and  expenses  thereon  incurred  but  not  yet
reported  which  shall not be less than an amount equal to [twenty-five]
FIFTEEN percent of expected incurred claims and expenses thereon for the
current plan year, unless a qualified actuary has  demonstrated  to  the
superintendent's satisfaction that a lesser amount will be adequate;
  S 2. This act shall take effect immediately.







 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD16170-01-2