Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 09, 2014 |
referred to insurance |
Senate Bill S7300
2013-2014 Legislative Session
Sponsored By
(R, C, IP, RFM) Senate District
Archive: Last Bill Status - In Senate Committee Insurance Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2013-S7300 (ACTIVE) - Details
- Current Committee:
- Senate Insurance
- Law Section:
- Insurance Law
- Laws Affected:
- Amd §2119, add §3224-d, Ins L
- Versions Introduced in Other Legislative Sessions:
-
2015-2016:
S1671
2017-2018: S4545
2019-2020: S3623
2021-2022: S3559
2013-S7300 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7300 TITLE OF BILL: An act to amend the insurance law, in relation to standards for prompt, fair and equitable payments of insurance commissions or other compensation arrangements PURPOSE: To modernize the insurance law to ensure that licensed health insurance producers, including brokers, agents and benefit consultants, are promptly paid compensation earned for placement of health insurance coverage. SUMMARY OF PROVISIONS: Section 1 of the bill would amend subsection (d) of § 2219 of the insurance law by adding a new paragraph (2) thereto, to ensure that the provisions of such section are applied to health insurance plans and policies placed by licensed insurance brokers inside or outside the New York State of Health Benefit Exchange established pursuant to Governor's Executive Order No. 42 (2012). Section 2 of the bill would add a new § 3224-d to the Insurance Law, to establish standards for prompt, fair and equitable payments of insurance commissions or other compensation arrangements earned, to licensed health insurance producers, including brokers, agents and benefit consultants, for placement of health insurance coverage. Such prompt payments would be made by health plans within 45 days of receipt of payment of premium or other charge.
2013-S7300 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7300 I N S E N A T E May 9, 2014 ___________ Introduced by Sen. SEWARD -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend the insurance law, in relation to standards for prompt, fair and equitable payments of insurance commissions or other compen- sation arrangements THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subsection (d) of section 2119 of the insurance law, as amended by chapter 687 of the laws of 2003, is amended to read as follows: (d) (1) No insurance broker shall, in connection with the sale, solic- itation or negotiation, issuance, delivery or transfer in this state of any contract of insurance made or negotiated in this state, directly or indirectly charge, or receive from, the insured or prospective insured therein any greater sum than the rate of premium fixed therefor by the insurer obligated as such therein, unless such broker has a right to compensation for services created in the manner specified in subsection (c) of this section. (2) THE PROVISIONS OF THIS SECTION SHALL APPLY TO ANY PLACEMENT OF HEALTH INSURANCE COVERAGE BY AN INSURANCE BROKER UNDER CONTRACTS OR AGREEMENTS ISSUED OR ENTERED INTO PURSUANT TO THIS ARTICLE AND ARTICLES FORTY-TWO, FORTY-THREE AND FORTY-SEVEN OF THIS CHAPTER AND ARTICLE FORTY-FOUR OF THE PUBLIC HEALTH LAW, INSIDE OR OUTSIDE THE NEW YORK HEALTH BENEFIT EXCHANGE ESTABLISHED UNDER GOVERNOR'S EXECUTIVE ORDER NO. 42 (2012) TO IMPLEMENT APPLICABLE PROVISIONS OF THE FEDERAL PATIENT PROTECTION AND AFFORDABLE CARE ACT, PUBLIC LAW 111-148 (42 USC S 18001 ET SEQ. (2010)). S 2. The insurance law is amended by adding a new section 3224-d to read as follows: S 3224-D. STANDARDS FOR PROMPT, FAIR AND EQUITABLE PAYMENTS OF INSUR- ANCE COMMISSIONS OR OTHER COMPENSATION ARRANGEMENTS. NOTWITHSTANDING ANY OTHER PROVISIONS OF THIS CHAPTER OR ANY OTHER GENERAL OR SPECIAL LAW TO THE CONTRARY, THIS SECTION IS INTENDED TO PROVIDE FOR PROMPT, FAIR AND EQUITABLE PAYMENTS OF INSURANCE COMMISSIONS OR OTHER COMPENSATION EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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