Bill > A07266

This bill amends the New York insurance law to allow insurance companies licensed to provide life, accident, and health insurance to offer additional non-insurance benefits or services as part of their group insurance policies. Specifically, the bill creates a new section of law (§ 3246) that permits insurers to include supplementary services such as financial and estate planning, financial counseling for beneficiaries, travel assistance, grief counseling, funeral planning, identity theft services, and other services approved by the superintendent of insurance. These additional benefits must be made available equally to all similarly-situated group members and must be clearly outlined in the insurance policy and certificate. The bill requires that any entity providing these non-insurance benefits must be appropriately licensed, and it grants the insurance superintendent the authority to adopt rules regulating the disclosure of these additional services. The legislation also modifies an existing section of insurance law to accommodate these new provisions, ensuring that these supplementary services do not violate existing regulations about inducements in insurance policies. The act is designed to provide more comprehensive support to insurance policyholders beyond traditional insurance coverage.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A7266