NY S08072

Requires payment rates for managed care plans to be actuarially sound and adequate, specifically accounting for costs to reimburse contracted providers and comply with applicable state and federal laws.

Mandates that reimbursement rates include specific identification of costs for employee wages, benefits, workers' compensation, Federal Fair Labor Standards Act compliance, and administrative costs, with no reduction below current licensed home care agency payment rates.

Establishes an independent actuary to analyze and recommend payment rates, with findings provided directly to legislative health and finance committee chairs.

Applies actuarially sound and adequate rate requirements to certified home health agencies under episodic payment systems and long-term home health care program providers, with uniform payment processes for mandated costs.

Requires the Commissioner of Health to expeditiously adjust managed care organization premiums and establish uniform processes to ensure timely compliance with these amendments, minimizing administrative burden on plans and providers.