Bill > S08619

This bill requires that any proposed legislation in New York that would create, modify, or expand mandated insurance benefits or Medicaid fee-for-service program services must include a detailed fiscal note with specific actuarial analysis. For insurance-related bills, the fiscal note must estimate the annual cost impact on insurance premiums for policyholders and describe the source of the actuarial estimate, as well as analyze the potential impact across different segments of the insurance market. For Medicaid-related bills, the fiscal note must estimate the annual cost to the state and local social services districts. The fiscal notes for Medicaid bills must be prepared in consultation with the Department of Health and Division of Budget. Critically, if a bill fails to include the required fiscal note, the bill will be automatically invalidated. These requirements apply to bills affecting insurance plans in New York state, its political subdivisions, and any authorized insurers doing business in the state. The bill aims to provide greater transparency about the potential financial consequences of proposed insurance and Medicaid benefit changes.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S8619