Bill > A00529

This bill establishes a pilot program for a self-funded health insurance plan specifically for Albany and Schenectady counties, allowing municipalities within those counties to join the plan under certain conditions. The bill requires the superintendent of financial services to authorize the program, which must meet six key requirements: (1) mutual consent of participating counties and municipalities, (2) maintaining a reserve fund of at least 12% of total annual claims, (3) establishing a surplus account of at least 5% of annual premium equivalents, (4) implementing a specific stop-loss insurance coverage with a deductible between $200,000 and $250,000, (5) covering a minimum of 1,000 lives (including retirees), and (6) establishing a specific liability structure for participating municipalities. The bill abolishes joint and several liability, instead creating a pro-rata assessment mechanism if the plan becomes financially impaired. Municipalities can join the plan with county and governing body consent, and the superintendent of financial services will review the certification to ensure compliance. The pilot program must run for at least two years and can become permanent if deemed successful. After thirty months, the superintendent must submit a report to state leadership analyzing the program's data and offering recommendations. The act will take effect 90 days after becoming law.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A529