Senate Bill S9517A

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9517--A
     Cal. No. 707
 
                             I N  S E N A T E
 
                              March 19, 2026
                                ___________
 
 Introduced  by  Sen.  MAYER  -- read twice and ordered printed, and when
   printed to be committed to the  Committee  on  Insurance  --  reported
   favorably  from  said  committee,  ordered to first and second report,
   ordered to a third reading, amended and ordered  reprinted,  retaining
   its place in the order of third reading

 AN  ACT  to amend the insurance law, in relation to notifying an insured
   of a rate filing increase or decrease for long term care
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subparagraph  (O)  of  paragraph  6  of subsection (b) of
 section 1117 of the insurance law, as added by chapter 655 of  the  laws
 of  2023,  is  amended  and a new subparagraph (O-1) is added to read as
 follows:
   (O) A statement that if the authorized  insurer,  corporation,  health
 maintenance  organization or fraternal benefit society seeks to increase
 OR DECREASE the premium rate, the department will  post  notice  of  the
 rate filing on its website prior to any determination by the department;
 [and]
   (O-1)  A STATEMENT THAT IF THE AUTHORIZED INSURER, CORPORATION, HEALTH
 MAINTENANCE ORGANIZATION OR FRATERNAL BENEFIT SOCIETY SEEKS TO  INCREASE
 OR  DECREASE  THE  PREMIUM RATE, SUCH AUTHORIZED   INSURER, CORPORATION,
 HEALTH MAINTENANCE ORGANIZATION OR FRATERNAL BENEFIT SOCIETY  WILL  SEND
 NOTIFICATION  OF THE RATE FILING  TO THE INSURED AT THE TIME OF THE RATE
 FILING WITH THE DEPARTMENT, TOGETHER WITH CLEAR INSTRUCTIONS ON  HOW  TO
 SUBMIT  COMMENTS  ON  THE  RATE  FILING OR APPLICATION REGARDING PREMIUM
 RATES TO THE DEPARTMENT, THROUGH  THE  DEPARTMENT'S  WEBSITE,  BY  MAIL,
 AND/OR BY OTHER MEANS; AND
   §  2. Subsection (i) of section 1117 of the insurance law, as added by
 chapter 655 of the laws of 2023, is amended to read as follows:
   (i) Whenever an authorized insurer,  corporation,  health  maintenance
 organization  or  fraternal  benefit  society  submits  a rate filing or
 application to the superintendent to increase or decrease premium  rates
 for  any  policy or certificate subject to this section, SUCH AUTHORIZED
 INSURER, CORPORATION, HEALTH MAINTENANCE ORGANIZATION OR FRATERNAL BENE-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

                       [ ] is old law to be omitted.
                                                            LBD14991-02-6
 S. 9517--A                          2
 
 FIT SOCIETY SHALL ALSO SEND NOTIFICATION OF THE RATE FILING OR  APPLICA-
 TION  TO  THE  POLICY  HOLDER TOGETHER WITH CLEAR INSTRUCTIONS ON HOW TO
 SUBMIT COMMENTS ON THE RATE  FILING  OR  APPLICATION  REGARDING  PREMIUM
 RATES  TO  THE  DEPARTMENT,  THROUGH  THE DEPARTMENT'S WEBSITE, BY MAIL,
 AND/OR BY OTHER MEANS; AND the superintendent shall post a public notice
 of the rate filing or application on  the  department's  website  within
 fourteen  days.  The  superintendent shall provide for a process for the
 public to provide comments on such rate filing or application  electron-
 ically  or  in  writing  for  a  period of thirty days after such public
 notice is posted on the department's website.
   § 3. Subsections (k) and (l) of section 1117 of the insurance law,  as
 added  by  chapter  655  of  the  laws  of  2023, are amended to read as
 follows:
   (k) Upon receipt by an authorized insurer, corporation, health mainte-
 nance  organization  or  fraternal  benefit  society  covered   by   the
 provisions  of  this  section of an approval or modification decision by
 the superintendent with respect to a rate filing  application  with  the
 department,  such  authorized  insurer,  corporation, health maintenance
 organization or fraternal benefit society shall notify policyholders and
 certificate holders of such decision no later than ninety days prior  to
 the  effective  date  of  the  premium  rate  increase OR DECREASE. Such
 notification shall include:
   (1) a description of such decision; and
   (2) a written statement conforming to the requirements  set  forth  in
 subparagraph (G) of paragraph six of subsection (b) of this section.
   (l) The provisions set forth in subparagraphs (G), (H), (I), (J), (K),
 (L), (M), (N), (O), (O-1), and (P) of paragraph six of subsection (b) of
 this section shall not apply to policies or certificates that are exempt
 from premium rate increases OR DECREASES.
   § 4. This act shall take effect immediately.