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NY S07896
Bill
Status
Introduced
6/17/2014
Primary Sponsor
Martin Golden
Click for details
AI Summary
- Allows group self-insurer plans to maintain reserves at 80 percent of otherwise required amounts if they demonstrate ability to secure anticipated present and future claims and receive Board approval
- Requires group self-insurer plans to have a collective bargaining agreement mandating employers obtain workers' compensation coverage from the group
- Mandates groups have ability to set, revise, or reset rates on at least a monthly basis and establish a delinquency fund or agreements to cover uncollected contributions
- Requires group members to assume joint and several liability for all claims during their membership period and establishes penalties or withdrawal liability for members who leave the plan
- Requires plan approval by the Federal Department of Labor as an ERISA fund; provision expires June 30, 2017
Legislative Description
Enacts additional provisions permitting self insurance by certain groups.
Last Action
REFERRED TO RULES
6/17/2014
Committee Referrals
Rules6/17/2014
Full Bill Text
No bill text available