New York State Assembly

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S06486 Summary:

BILL NO	S06486
SAME AS	No same as
SPONSOR	KENNEDY
COSPNSR	AVELLA
MLTSPNSR
Add S215, Ins L
Authorizes superintendent of financial services to promulgate rules and regulations necessary to prohibit retroactive charge-backs of health insurance rates.

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S06486 Actions:

BILL NO	S06486
02/15/2012	REFERRED TO INSURANCE

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S06486 Floor Votes:

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S06486 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6486
 
                    IN SENATE
 
                                    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    § 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.

                                                                   LBD01038-02-2

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