| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| Jan 17, 2020 |
print number 5929a |
| Jan 17, 2020 |
amend and recommit to insurance |
| Jan 08, 2020 |
referred to insurance |
| May 16, 2019 |
referred to insurance |
Senate Bill S5929A
2019-2020 Legislative Session
Sponsored By
(D, WF) Senate District
Archive: Last Bill Status - In Senate Committee Insurance Committee
Actions
Bill Amendments
2019-S5929 - Details
2019-S5929 - Sponsor Memo
BILL NUMBER: S5929
SPONSOR: BRESLIN
TITLE OF BILL: An act to amend the insurance law, in relation to the
offering of reward or incentive programs to eligible members
PURPOSE:
The purpose of this bill is to allow insurers to apply to the Department
of Financial Services for approval to offer voluntary incentives or
rewards programs.
SUMMARY OF PROVISIONS:
Subsection (c)of section 4224 of the insurance law , as amended by chap-
ter 496 of the laws of 2013, is amended and a new subsection (g) is
added to authorize health insurers to offer voluntary incentives for
rewards programs.
JUSTIFICATION:
2019-S5929 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5929
2019-2020 Regular Sessions
I N S E N A T E
May 16, 2019
___________
Introduced by Sen. BRESLIN -- 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 the offering of reward
or incentive programs to eligible members
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subsection (c) of section 4224 of the insurance law, as
amended by chapter 496 of the laws of 2013, is amended and a new
subsection (g) is added to read as follows:
(c) Except as permitted by section three thousand two hundred thirty-
nine of this chapter or [subsection] SUBSECTIONS (f) AND (G) of this
section, no such life insurance company and no such savings and insur-
ance bank and no officer, agent, solicitor or representative thereof and
no such insurer doing in this state the business of accident and health
insurance and no officer, agent, solicitor or representative thereof,
and no licensed insurance broker and no employee or other representative
of any such insurer, agent or broker, shall pay, allow or give, or offer
to pay, allow or give, directly or indirectly, as an inducement to any
person to insure, or shall give, sell or purchase, or offer to give,
sell or purchase, as such inducement, or interdependent with any policy
of life insurance or annuity contract or policy of accident and health
insurance, any stocks, bonds, or other securities, or any dividends or
profits accruing or to accrue thereon, or any valuable consideration or
inducement whatever not specified in such policy or contract other than
any valuable consideration, including but not limited to merchandise or
periodical subscriptions, not exceeding twenty-five dollars in value;
nor shall any person in this state knowingly receive as such inducement,
any rebate of premium or policy fee or any special favor or advantage in
the dividends or other benefits to accrue on any such policy or
contract, or knowingly receive any paid employment or contract for
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD11769-01-9
2019-S5929A (ACTIVE) - Details
2019-S5929A (ACTIVE) - Sponsor Memo
BILL NUMBER: S5929A
SPONSOR: BRESLIN
TITLE OF BILL:
An act to amend the insurance law, in relation to the offering of reward
or incentive programs to eligible members
PURPOSE:
The purpose of this bill is to allow insurers to apply to the Department
of Financial Services for approval to offer voluntary incentives or
rewards programs.
SUMMARY OF PROVISIONS:
Subsection (c)of section 4224 of the insurance law , as amended by chap-
ter 496 of the laws of 2013, is amended and a new subsection (g) is
added to authorize health insurers to offer voluntary incentives for
rewards programs.
2019-S5929A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
5929--A
2019-2020 Regular Sessions
I N S E N A T E
May 16, 2019
___________
Introduced by Sen. BRESLIN -- read twice and ordered printed, and when
printed to be committed to the Committee on Insurance -- recommitted
to the Committee on Insurance in accordance with Senate Rule 6, sec. 8
-- committee discharged, bill amended, ordered reprinted as amended
and recommitted to said committee
AN ACT to amend the insurance law, in relation to the offering of reward
or incentive programs to eligible members
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Subsection (c) of section 4224 of the insurance law, as
amended by chapter 496 of the laws of 2013, is amended and two new
subsections (g) and (h) are added to read as follows:
(c) Except as permitted by section three thousand two hundred thirty-
nine of this chapter or [subsection] SUBSECTIONS (f), (G) AND (H) of
this section, no such life insurance company and no such savings and
insurance bank and no officer, agent, solicitor or representative there-
of and no such insurer doing in this state the business of accident and
health insurance and no officer, agent, solicitor or representative
thereof, and no licensed insurance broker and no employee or other
representative of any such insurer, agent or broker, shall pay, allow or
give, or offer to pay, allow or give, directly or indirectly, as an
inducement to any person to insure, or shall give, sell or purchase, or
offer to give, sell or purchase, as such inducement, or interdependent
with any policy of life insurance or annuity contract or policy of acci-
dent and health insurance, any stocks, bonds, or other securities, or
any dividends or profits accruing or to accrue thereon, or any valuable
consideration or inducement whatever not specified in such policy or
contract other than any valuable consideration, including but not limit-
ed to merchandise or periodical subscriptions, not exceeding twenty-five
dollars in value; nor shall any person in this state knowingly receive
as such inducement, any rebate of premium or policy fee or any special
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
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