S. 7550(Seward)/A. 10656(Morelle)

Health Insurance Premium Rates; Sole Proprietors

Summary:  The bill amends Insurance Law §§ 3231(i)(2) and 4317(f)(2) to extend the cap on premium rates that an insurer may charge an individual proprietor who purchases health insurance coverage through association groups, including chambers of commerce, through December 31, 2011.  The rate cap will continue to be 115% of the rate established for the same coverage issued to groups.  The rate cap was scheduled to expire on December 31, 2008.

Effective Date:  The bill is effective immediately.

Last Action: Approved and signed by the Governor on September 4, 2008 (Chapter 517 of the Laws of 2008).