NY A10472

Establishes Small Business Insurance Board (SBIB) consisting of five members appointed by the Governor, Senate Temporary President, Assembly Speaker, and minority leaders of both houses to oversee a new health insurance pool program.

Defines qualified businesses as those employing 1-100 eligible employees (at least 50% full-time) that are actively engaged in New York State; businesses that leave the program cannot re-enter within 12 months.

Requires 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.

Imposes a surcharge not to exceed 1% of premiums paid by participating businesses and employees, to be deposited in the Small Business Insurance Pool Fund to cover administrative costs of the program.

Grants SBIB authority to adjust carrier payments if disproportionate shares of high- or low-risk enrollees are found, using actuarially-related demographic factors; effective date January 1, 2010.