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History
- Approval memo.43
- Signed chap.589
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.747
- Substituted for A8300
- Referred to ways and means
- Delivered to assembly
- Passed senateVote 59–0
- Ordered to third reading cal.1908
- Referred to rules
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 catastrophic or reinsurance coverage issued to certain small groups
Assembly Floor Calendar · Sponsor Rebecca Seawright
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6004
Title of bill
An act to amend the insurance law, in relation to catastrophic or reinsurance coverage issued to certain small groups; and to amend a chapter of the laws of 2015 amending the insurance law relating to catastrophic or reinsurance coverage issued to certain small groups, as proposed in legislative bills numbers S. 5928-A and A. 8134-A, in relation to the effectiveness of such chapter; and in relation to directing the superintendent of financial services to contract with an independent entity to conduct an assessment regarding the impact of the prohibition on the sale of stop loss, catastrophic and reinsurance coverage to the small group market
Purpose
The purpose of this bill is to amend a chapter of the laws of 2015 related to the sale of stop-loss, catastrophic and reinsurance coverage to certain employers within the small-group health insurance market.
Summary of provisions
This bill would provide that stop-loss, catastrophic and reinsurance coverage may only be sold in the small group health market to groups which already had such coverage as of January 1st, 2015. The bill would sunset the exemption for these groups in two years. Additionally, the bill would require the Department of Financial Services to contract with an independent entity to study the effects of the sale of stop-loss, catastrophic and reinsurance coverage on the small group market.
Justification
The ACA expanded the "small group" market from 2-50 to 2-100 employees or members effective January 1st, 2016 in order to place downward pressure on premiums through the law of large numbers by including larger firms within the group. Expanding the small group up to 100 members or employees required the sale of community-rated policies-and prohibited the sale of stop loss, reinsurance or catastrophic coverages-to groups with between 51-100 members or employees for the first time. This included both private sector firms and members of municipal cooperatives and schools which are members of municipal cooperative associations pursuant to article five-G of the general municipal law.
A8134A (Seawright)/S5928-A (Seward) of 2015 grandfathered 51-100 member groups which had self-insurance with stop-loss coverage as of June 1st, 2015, as long as they kept their coverage in effect The bill contained a sunset five years in the future. This bill would amend the chapter of the laws of 2015 that resulted from that legislation to shorten the sunset to two years and to require the Department of Financial Services to study stop-loss, so that the effect of allowing the sale of stop-loss on the rates in the small group market may be determined.
Legislative history
New Bill.
Fiscal implications
Undetermined.
Effective date
Immediate, and shall take effect on the same date and in the same manner as A 8134A and S 5928A of 2015
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.