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Who cares
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Sponsors
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History
- Signed chap.107
- Delivered to governor
- Returned to senate
- Passed assembly
- Message of necessity - 3 day message
- Ordered to third reading rules cal.72
- Substituted for A11369
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 58–0
- Message of necessity - 3 day message
- Motion to amend lost
Show 3 earlier actions
- Ordered to third reading cal.760
- Reported and committed to rules
- Referred to finance
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to prior approval of health insurance premium rates
Assembly Floor Calendar
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S8088
Title of bill
An act to amend the insurance law, in relation to prior approval of health insurance premium rates
Purpose
This bill authorizes the State Insurance Department to approve health insurance premium rate adjustments before they take effect.
Summary of provisions
This bill establishes a process and timeframe for the Insurance Depart- ment to prior approve changes in health insurance premiums before they become effective. The process includes public notification of requested premium rate adjustments, the opportunity for public comment and public notification of the final premium determination.
Under the provisions of the bill, the Superintendent of Insurance is required to render a final determination on a proposed health insurance premium adjustment within 60 days or it is deemed effective. In instances where the Superintendent requires additional information to render his decision, the bill provides a maximum of 20 additional days for a final determination to be made.
The bill also increases the minimum medical loss ratio (MLR) - the amount of premiums required to pay health claims - to 82 percent.
Statement in support and budgetary implications
Enactment of this bill is necessary to achieve $70 million in savings in 2010-11 by controlling inappropriate health insurance premium increases and reducing the number of uninsured individuals that will migrate to public health insurance programs.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.