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Assembly Bill A5955

2021-2022 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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2021-A5955 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §3221, Ins L
Versions Introduced in Other Legislative Sessions:
2009-2010: A7186
2011-2012: A1247
2013-2014: A331
2015-2016: A3978
2017-2018: A1560
2019-2020: A2918
2023-2024: A2018
2025-2026: A2556

2021-A5955 (ACTIVE) - Summary

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

2021-A5955 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5955
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 2, 2021
                                ___________
 
 Introduced by M. of A. HAWLEY, SALKA, M. MILLER -- Multi-Sponsored by --
   M. of A.  BARCLAY -- read once and referred to the Committee on Insur-
   ance
 
 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.
   §  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.
                                                            LBD01991-01-1

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