Bill Text: NY A02018 | 2023-2024 | General Assembly | Introduced

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

Spectrum: Moderate Partisan Bill (Republican 6-1)

Status: (Introduced) 2024-01-03 - referred to insurance [A02018 Detail]

Download: New_York-2023-A02018-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2018

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    January 23, 2023
                                       ___________

        Introduced  by M. of A. HAWLEY, ANGELINO, GALLAHAN, LEMONDES, DeSTEFANO,
          SEPTIMO -- 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:

     1    Section 1. Paragraph 4 of subsection (p) of section 3221 of the insur-
     2  ance law, as added by chapter 661 of the laws of  1997,  is  amended  to
     3  read as follows:
     4    (4)  At the time of coverage renewal, an insurer may modify the health
     5  insurance coverage for a group or blanket policy offered to a  large  or
     6  small group policyholder so long as such modification is consistent with
     7  this  chapter  and  effective  on  a uniform basis among all small group
     8  policyholders with that policy  form;  provided,  however,  the  insurer
     9  shall  provide written notice to all policyholders to which the modified
    10  policy shall be offered of any change in premium  rates  not  less  than
    11  sixty, but not more than one hundred twenty, days prior to the effective
    12  date of such rates.
    13    §  2.  This act shall take effect the first of January next succeeding
    14  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.
                                                                   LBD05224-01-3