NY A07153

Creates the New York Health Insurance Consumer Protection Security Fund, a guaranty fund mechanism to protect covered individuals and health care providers against health insurer failure or insolvency.

Requires health insurers licensed under articles 32 or 42 of the Insurance Law to contribute to the fund through assessments based on premiums received in New York, excluding Medicaid (Title XIX) premiums.

Directs the superintendent to use fund monies to ensure full payment to health care providers and covered individuals for services provided before and after insolvency proceedings, with payments required within 30 days.

Allows the superintendent to advance funds from the general budget to meet guaranty obligations, with repayment to the general fund when insurer assets become available; assessments cannot be included in premiums charged to consumers.

Takes effect immediately and applies to any health insurer determined insolvent by the superintendent on or after the effective date.