Bill > A05438

This bill establishes new reporting requirements for out-of-state entities that offer health care sharing plans or arrangements to New York residents. Specifically, these entities must submit comprehensive annual reports to the state superintendent of insurance by October 1st, 2025, and annually thereafter by March 1st. The required reporting includes detailed information about participants (such as total participant numbers and employer group details), provider contracts, financial and operational data (including fees collected and reimbursement requests), coverage details and exclusions, operational and marketing information, and organizational details. An officer of the entity must certify the submitted information, and entities failing to provide complete information may face significant penalties, including daily fines of $5,000 and potential cease-and-desist orders. The superintendent is required to review these submissions and publish an annual public report by April 1st, including consumer guidance for filing complaints. This bill aims to increase transparency and oversight of health care sharing ministries and similar entities operating in New York, providing consumers with more information about these alternative health care cost-sharing arrangements that are not traditional insurance plans.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A5438