Bill Text: NY S06486 | 2011-2012 | General Assembly | Introduced


Bill Title: Authorizes superintendent of financial services to promulgate rules and regulations necessary to prohibit retroactive charge-backs of health insurance rates.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2012-02-15 - REFERRED TO INSURANCE [S06486 Detail]

Download: New_York-2011-S06486-Introduced.html
                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6486
                                   I N  S E N A T E
                                   February 15, 2012
                                      ___________
       Introduced  by  Sen. KENNEDY -- 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 powers and  duties
         of the superintendent of financial services
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The insurance law is amended by adding a new section 215 to
    2  read as follows:
    3    S 215.  SUPERINTENDENT  TO  PROHIBIT  RETROACTIVE  APPLICATIONS  OF  A
    4  RESULTING  RATE  CHANGE.  THE  SUPERINTENDENT SHALL PROMULGATE RULES AND
    5  REGULATIONS TO PROHIBIT RETROACTIVE APPLICATIONS  OF  A  RESULTING  RATE
    6  CHANGE. SUCH RULES AND REGULATIONS SHALL INCLUDE, BUT NOT BE LIMITED TO,
    7  ESTABLISHING  REASONABLE  TIME  PERIODS  IN  WHICH  THE DEPARTMENT SHALL
    8  REVIEW RATE  REQUESTS  AND  PROVIDING  THE  DEPARTMENT  WITH  SUFFICIENT
    9  RESOURCES TO ACCOMPLISH SUCH TASKS.
   10    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01038-02-2
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