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NY A09208
Bill
Status
3/31/2014
Primary Sponsor
Kevin Cahill
Click for details
AI Summary
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Allows insurers to satisfy conversion policy obligations through affiliate companies within the same holding company system, subject to superintendent approval after considering the public interest
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Applies to family policies, group policies, and health maintenance organization contracts when coverage is terminated due to loss of family status, employment termination, or class discontinuance
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Requires affiliate companies offering replacement coverage to provide policies at each level of coverage defined in the Affordable Care Act Section 1302(d) with benefits specified in Insurance Law Section 4328
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Permits the superintendent to approve affiliate company arrangements for issuing individual conversion policies, group conversion contracts, and class discontinuance replacement contracts
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Takes effect immediately upon enactment
Legislative Description
Allows for the use of an affiliate company to meet certain obligations of an insurer, including issuing replacement coverage in the case of a class discontinuance of individual coverage and issuing individual conversion coverage.
Last Action
substituted by s6960
6/17/2014