|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to insurance|
|Feb 04, 2013||referred to insurance|
senate Bill S3464
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3464 - Details
S3464 - Summary
Exempts policies intended for use in health savings account pursuant to section 1201 of the federal medicare prescription drug, improvement and modernization act of 2003 from certain coverage requirements.
S3464 - Sponsor Memo
BILL NUMBER:S3464 TITLE OF BILL: An act to amend the insurance law, in relation to cover- age requirements of certain health insurance plans PURPOSE: The purpose of this legislation is to help individuals and businesses afford the skyrocketing cost of health insurance, by making it easier for them to purchase high-deductible health plans (HDHPs) that are coupled with health savings accounts (HSAs). SUMMARY OF PROVISIONS: Sections 3216, 4304, and 4322 of the insurance law are amended to authorize HMOs and insurers to offer HDHPs coupled with HSAs. Such policies were created under the federal Medicare Prescription Drug, Improvement, and Modernization Act of 2003 EXISTING LAW: Current law prohibits HDHPs and HSAs from being offered by HMOs and in the individual market. JUSTIFICATION: Individuals and employers are currently struggling with the skyrocketing cost of health insurance in New York. Inevitably, as health care costs increase, so do the number of uninsured in the state. There are already nearly 3 million New Yorkers without health insurance, and we can ill afford any more. The federal Medicare reform law, signed in December of 2003, established HSAs which must be coupled with a HDHP that has at least a $1100 deduct-
S3464 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3464 2013-2014 Regular Sessions I N S E N A T E February 4, 2013 ___________ Introduced by Sen. SEWARD -- 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 coverage requirements of certain health insurance plans THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (l) of section 3216 of the insurance law, as added by chapter 504 of the laws of 1995, is amended to read as follows: (l) On and after January first, nineteen hundred ninety-seven, no insurer shall offer major medical, comprehensive or other comparable individual contracts, other than for purposes of conversion, unless the benefits of such contracts, including deductibles and coinsurance, are identical to the out-of-plan benefits of the contracts described in section four thousand three hundred twenty-two of this chapter. Such contracts must include a prescription drug benefit complying with the requirements of that section. THE REQUIREMENTS OF THIS SUBSECTION SHALL NOT APPLY TO A POLICY INTENDED TO QUALIFY FOR USE IN A HEALTH SAVINGS ACCOUNT PURSUANT TO SECTION 1201 OF THE FEDERAL MEDICARE PRESCRIPTION DRUG, IMPROVEMENT AND MODERNIZATION ACT OF 2003. S 2. Subsection (l) of section 4304 of the insurance law, as added by chapter 504 of the laws of 1995, is amended to read as follows: (l) On and after January first, nineteen hundred ninety-seven, no insurer shall offer major medical, comprehensive or other comparable individual contracts on a direct payment basis, other than for purposes of conversion, unless the benefits of such contracts, including deduct- ibles and coinsurance, are identical to the out-of-plan benefits of the contracts described in section four thousand three hundred twenty-two of this article. Such contracts must include a prescription drug benefit complying with the requirements of such section. THE REQUIREMENTS OF THIS SUBSECTION SHALL NOT APPLY TO A POLICY INTENDED TO QUALIFY FOR USE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08122-01-3
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