NY A03852

Establishes a Small Business Insurance Board (SBIB) consisting of five members appointed by the Governor, Senate President, Assembly Speaker, and minority leaders of both chambers to create and administer the Small Business Insurance Pool Program.

Defines eligible participants as businesses actively engaged in New York State with 1-100 employees, with coverage extending to eligible employees working at least 50% of the time and their dependents or domestic partners.

Requires the SBIB to contract with health insurance carriers to provide coverage including hospital visits, physician services, prescription drugs, mental health services, and durable medical equipment, with benefits equal to or greater than the Healthy New York Program.

Implements a surcharge not to exceed 1% of premiums paid by participating businesses and employees, with collected funds deposited into a newly created Small Business Insurance Pool Fund to cover administrative costs of the program.

Takes effect January 1, 2010, with authority granted immediately to develop necessary rules and regulations for implementation.