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NY A02853
Bill
Status
1/27/2023
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 designed to promote health, longevity, or prevent disease with voluntary participation available to all insureds within the same class in a non-discriminatory manner.
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Prohibits life insurers from increasing premiums or charges based on participation or non-participation in wellness programs.
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Adds preventative care, screenings, chronic disease management, and meditation or sleep improvement programs to the list of permissible wellness program services.
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Permits rewards and incentives including premium refunds, discounts, or policy value credits under life insurance policies; reimbursement for wearable devices and associated subscriptions; and reimbursement for biometric screenings.
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Requires any premium discounts or refunds under life insurance wellness programs to be actuarially supported by data demonstrating the incentives improve expected mortality risk experience, and subjects all collected data to state and federal privacy and security laws.
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 or biometric data; provides for discounts on life insurance and on products or services intended to incent positive behavioral changes.
Last Action
substituted by s5890a
5/30/2023