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NY A08617
Bill
Status
12/23/2022
Primary Sponsor
Demond Meeks
Click for details
AI Summary
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Authorizes life insurers to establish wellness programs in conjunction with life insurance policies, expanding existing authority that previously applied only to accident and health insurers.
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Expands the definition of wellness programs to include "longevity" as a goal and adds preventative care and chronic disease management programs to the list of eligible wellness activities.
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Permits life insurers to offer rewards including premium refunds, discounts, or policy value credits for wellness participation, with such incentives supported by data showing improvement in mortality risk experience.
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Allows reimbursement for wearable devices and subscription memberships that track physical activity and biometric data (heart rate, body composition, sleep, etc.) to incentivize behavioral changes.
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Expands permissible incentives to include reimbursement for biometric screenings and broadens gift card/voucher rewards to cover any products or services intended to improve health or reduce death risk.
Legislative Description
Authorizes life insurers to establish wellness programs in conjunction with the issuance of life insurance policies; provides for full or partial reimbursement for the cost of a device and associated subscription that can be used to track activity and/or biometric data; provides for discounts on life insurance and on products or services intended to incent positive behavioral changes.
Last Action
tabled
12/23/2022