|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 05, 2022||referred to insurance|
|Jan 30, 2021||referred to insurance|
senate Bill S3573
Current Bill Status - In Senate Committee Insurance Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S3573 (ACTIVE) - Details
S3573 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3573 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.
S3573 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3573 2021-2022 Regular Sessions I N S E N A T E January 30, 2021 ___________ 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 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 favor or advantage in the dividends or other benefits to accrue on any such policy or contract, or knowingly receive any paid employment or EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05981-01-1
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