Bill > S05044

This bill amends the New York insurance law to allow insurance companies that offer group life, group, or blanket accident and health insurance policies to include non-insurance benefits and services as part of their coverage. Specifically, insurers can now offer additional services to group members, such as financial and estate planning, financial counseling for beneficiaries, travel assistance, grief counseling, funeral planning, and identity theft services. Any entity providing these non-insurance benefits must be appropriately licensed, and the superintendent of insurance is authorized to approve additional services and adopt rules regulating their disclosure in insurance policies. The bill ensures that these additional services are made available equally to all similarly-situated group members and must be clearly outlined in the insurance policy and certificate. This change provides insurance companies more flexibility in offering comprehensive support to policyholders beyond traditional insurance coverage, potentially enhancing the value and appeal of group insurance policies.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S5044