Bill > A02556

This bill amends the New York insurance law to require health insurance providers to give written notice to policyholders about premium rate changes with specific timing requirements. Specifically, insurers must provide written notification of any premium rate changes not less than 60 days (and not more than 120 days) before those new rates take effect, when modifying health insurance coverage for group policies in both large and small group markets. The bill applies to policy renewals and mandates that such modifications be applied uniformly across all policyholders with the same policy form. This change aims to provide greater transparency and advance warning to insurance customers about potential increases in their premium costs, giving them more time to understand and prepare for upcoming rate changes. The bill will go into effect on the first day of January following its enactment.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A2556