NY S04950

Amends Insurance Law Section 3239 to allow licensed insurance agents, brokers, and consultants to assist insurers and employers in developing and implementing wellness programs, disease management, and care coordination services as part of commissions or separate fee agreements.

Amends Insurance Law Section 4224 to permit licensed insurance agents, brokers, and consultants to assist with interpretation, management, and communication of insurance policies and annuity contracts and their costs.

Authorizes specific permissible services including COBRA administration, flexible spending accounts, health reimbursement accounts, clinical health advocacy, benefit statements, membership records, premium reconciliation, billing services, ERISA compliance, and financial modeling.

Requires that agents, brokers, and consultants act within the scope of their licensure under Article 21 of the Insurance Law and that wellness programs be based on actuarial demonstrations of expected health improvements.

Takes effect immediately upon enactment.