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Assembly Bill A3978

2015-2016 Legislative Session

Provides that written notice of premium rate changes be given not less than sixty days prior to the effective date of such rate changes

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Archive: Last Bill Status - In Assembly Committee

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2015-A3978 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd ยง3221, Ins L
Versions Introduced in Other Legislative Sessions:
2009-2010: A7186
2011-2012: A1247
2013-2014: A331
2017-2018: A1560
2019-2020: A2918
2021-2022: A5955
2023-2024: A2018
2025-2026: A2556

2015-A3978 (ACTIVE) - Summary

Provides written notice of premium rate changes not less than sixty days prior to the effective date of such rate changes.

2015-A3978 (ACTIVE) - Bill Text download pdf 

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

                                  3978

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 28, 2015
                               ___________

Introduced  by M. of A. HAWLEY, McKEVITT, RAIA, FINCH -- Multi-Sponsored
  by -- M. of A.  BARCLAY -- read once and referred to the Committee  on
  Insurance

AN  ACT  to  amend  the  insurance law, in relation to providing written
  notice of premium rate changes not less than sixty days prior  to  the
  effective date of such rate changes

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

  Section 1. Paragraph 4 of subsection (p) of section 3221 of the insur-
ance law, as added by chapter 661 of the laws of  1997,  is  amended  to
read as follows:
  (4)  At the time of coverage renewal, an insurer may modify the health
insurance coverage for a group or blanket policy offered to a  large  or
small group policyholder so long as such modification is consistent with
this  chapter  and  effective  on  a uniform basis among all small group
policyholders with that policy  form;  PROVIDED,  HOWEVER,  THE  INSURER
SHALL  PROVIDE WRITTEN NOTICE TO ALL POLICYHOLDERS TO WHICH THE MODIFIED
POLICY SHALL BE OFFERED OF ANY CHANGE IN PREMIUM  RATES  NOT  LESS  THAN
SIXTY, BUT NOT MORE THAN ONE HUNDRED TWENTY, DAYS PRIOR TO THE EFFECTIVE
DATE OF SUCH RATES.
  S  2.  This act shall take effect the first of January next succeeding
the date on which it shall have become a law.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02075-01-5

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