Authorizes superintendent of financial services to promulgate rules and regulations necessary to prohibit retroactive charge-backs of health insurance rates.
STATE OF NEW YORK
________________________________________________________________________
1186
2019-2020 Regular Sessions
IN ASSEMBLY
January 14, 2019
___________
Introduced by M. of A. CAHILL -- Multi-Sponsored by -- M. of A. COLTON,
ENGLEBRIGHT, GUNTHER -- read once and referred 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 § 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 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD02631-01-9
