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A05955 Summary:

BILL NOA05955
 
SAME ASNo Same As
 
SPONSORHawley
 
COSPNSRSalka, Miller M, Angelino, Gallahan, Lemondes, DeStefano, Septimo
 
MLTSPNSRBarclay
 
Amd §3221, Ins L
 
Provides written notice of premium rate changes not less than sixty days prior to the effective date of such rate changes.
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A05955 Actions:

BILL NOA05955
 
03/02/2021referred to insurance
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A05955 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5955
 
                               2021-2022 Regular Sessions
 
                   IN ASSEMBLY
 
                                      March 2, 2021
                                       ___________
 
        Introduced by M. of A. HAWLEY, SALKA, M. MILLER -- Multi-Sponsored by --
          M. of A.  BARCLAY -- read once and referred to the Committee on Insur-
          ance
 
        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.
                                                                   LBD01991-01-1
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