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Senate Bill S2029

2011-2012 Legislative Session

Authorizes the superintendent of insurance to phase in certain health insurance rate increases

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Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance Committee

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2011-S2029 (ACTIVE) - Details

Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยง4308, Ins L
Versions Introduced in 2009-2010 Legislative Session:
S882

2011-S2029 (ACTIVE) - Summary

Authorizes the superintendent of insurance to phase in certain health insurance rate increases; provides that if an increase is fifteen percent or more, the superintendent may phase in the percentage amount which exceeds fifteen percent over a period not to exceed six months.

2011-S2029 (ACTIVE) - Sponsor Memo

2011-S2029 (ACTIVE) - Bill Text download pdf 

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

                                  2029

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 18, 2011
                               ___________

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

AN ACT to amend the insurance law, in relation to permitting the  super-
  intendent  of  insurance to phase in certain increases in premiums for
  nonprofit medical and dental indemnity on health and hospital  service
  corporations

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

  Section 1. Section 4308 of the insurance law is amended  by  adding  a
new subsection (k) to read as follows:
  (K)  NOTWITHSTANDING ANY OTHER PROVISION OF LAW, WHERE ANY APPLICATION
FOR AN INCREASE IN PREMIUMS IS APPROVED BY THE SUPERINTENDENT  AND  SUCH
INCREASE  IS FIFTEEN PERCENT OR MORE OF THE PREVIOUS PREMIUM, THE SUPER-
INTENDENT MAY ELECT TO PHASE IN  THE  PERCENTAGE  AMOUNT  WHICH  EXCEEDS
FIFTEEN PERCENT OVER A PERIOD NOT TO EXCEED SIX MONTHS.
  S 2. This act shall take effect immediately.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07150-01-1

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