NY A02006

Exempts insurance policy forms issued to "large group policyholders" (groups with 500+ employees/members) from state filing and approval requirements when they employ a qualified benefits manager

Defines "qualified benefits manager" as an individual who is an ERISA fiduciary, holds a bachelor's degree, has at least 5 years of experience in group benefit programs, or holds specific professional certifications (such as CEBS, CLU, or licensed insurance agent/broker)

Prohibits the superintendent from disapproving exempt policy forms but allows issuance of cease and desist orders after notice and hearing if forms violate state law or are unjust, unfair, or inequitable

Requires insurers using the exemption to file annual lists with the superintendent identifying and describing exempt policy forms

Allows premium rates, commissions, and fees for exempt groups to be used immediately upon mailing to the superintendent, and requires policies to include notice that forms are not subject to state filing and approval requirements