NY S04872

Requires public corporations to provide 45 days written notice to retired officers, employees, and their families before authorizing or approving changes to their health insurance contracts or plans

Notice must include either the full text of the proposed contract/amendment with financial information, or a summary with directions to a website where full details can be accessed

Financial information disclosed must include costs to both the public corporation and the covered retirees and their families

For contracts negotiated through collective bargaining under the Taylor Law (Civil Service Law Article 14), written notice must be given when the health insurance contract becomes binding on retirees

Applies to any health insurance contract or plan entered into, renewed, modified, or amended after the bill's effective date