NY S02448

Requires public corporations to provide written notice to retired officers, employees, and their families at least 90 days before authorizing health insurance contracts, plans, or amendments for retirees.

For contracts negotiated as part of employee organization collective bargaining, notice must be given when the health insurance contract becomes binding on covered retirees.

Notice must include either the full contract text and financial information (including costs to the public corporation and retirees), or general terms with a secure website link where retirees can access complete details and cost information.

Applies to any health insurance contract or plan entered into, renewed, modified, or amended on or after the bill's effective date.