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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to insurance
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7339
Title of bill
An act to amend the insurance law, in relation to requiring six months notice when cancelling the insurance policy of any small business
Purpose
To provide sufficient notice to small businesses when their health insurance carrier will no longer provide coverage for their employees.
Summary of provisions
Amends the insurance law by adding a new section 3114 to require that any business with 50 employees or less must receive a minimum of six months notice prior to the cancellation of a policy.
Justification
Many small businesses have had their health insurance policies cancelled due to no fault of their own. Very often there is little notice given which leaves these businesses scrambling to find a carrier that will provide the policy for their employees. Recently, Empire Blue insurance company withdrew from the small business market leaving thousands of employees without health insurance. This legislation would require that insurance companies provide six months notice of cancellation, to provide for adequate time for the company and their employees to research and secure coverage from another carrier.
Legislative history
New Bill.
Fiscal implications
None.
Local fiscal implications
None.
Effective date
120 days after it has become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.