Loading chat...
NY A09151
Bill
Status
1/31/2022
Primary Sponsor
Steve Stern
Click for details
AI Summary
-
Requires all premium rate determinations made by the superintendent to be certified by an actuary meeting qualification standards established by the American Academy of Actuaries and following practice standards of the Actuarial Standards Board.
-
Applies actuarial certification requirement to both health insurance policy forms under Section 3231 and health care corporation contracts under Section 4308 of the Insurance Law.
-
Mandates that actuaries describe in detail the actuarial assumptions and methods used in the superintendent's rate determination for policy forms subject to Section 3231.
-
Takes effect immediately upon enactment.
Legislative Description
Requires actuarial certification of certain rate determinations made by the superintendent, in accordance with practice standards established by the actuarial standards board.
Last Action
referred to insurance
1/31/2022