Requires the superintendent of financial services to conduct a review of mandated benefits in effect as of December 31, 2025 and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits to examine the impact on insurance premiums prior to the adoption of such legislation.
Summary
S10080 would amend the Financial Services Law to require the Superintendent of Financial Services to study insurance benefit mandates already in effect as of December 31, 2025 and report on both the individual and cumulative cost of those mandates on insurance premiums. The report would be due one year after the new provision takes effect.
The bill also would require a cost analysis of any future legislation mandating new insurance benefits before such legislation is treated as fully in force and effect. Under the bill, newly passed benefit-mandate legislation would not be considered fully effective until the superintendent’s analysis is completed and made publicly available for review and comment. The act would take effect immediately.
Impact
The bill would add new duties to the Department of Financial Services and the superintendent, creating a formal review process for existing mandated health or insurance benefits and a pre-enactment cost-analysis requirement for future benefit mandates. It would affect the legislative process for insurance-related bills by conditioning their practical effectiveness on completion and publication of the superintendent’s analysis, and it could influence how mandated benefits are drafted, debated, and timed for implementation. The measure is aimed at insurance premiums and would likely affect insurers, policyholders, and sponsors of benefit-mandate legislation.
Sentiment
There is limited recorded discussion or voting history available for this bill, so no clear bipartisan or partisan pattern can be identified from the provided materials. Based on the bill text and caption, the measure appears to be framed as a cost-transparency and premium-control proposal rather than a direct benefit expansion or cut. The overall tone of the bill is procedural and analytical, emphasizing review and public disclosure before new insurance mandates take effect.
Contention
The main point of contention is likely to be whether requiring a pre-adoption cost analysis creates an unnecessary hurdle for enacting new insurance benefits. Supporters would likely view the bill as a way to improve transparency and protect consumers from premium increases, while opponents may argue it could delay or obstruct coverage mandates that are intended to expand benefits. Another likely issue is the scope of the superintendent’s authority and whether the bill effectively gives an executive agency a gatekeeping role over legislation passed by the Legislature.
Same As
Requires the superintendent of financial services to conduct a review of mandated benefits in effect as of December 31, 2025 and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits to examine the impact on insurance premiums prior to the adoption of such legislation.
Requires the superintendent of financial services to conduct a review of mandated benefits in effect as of December 31, 2025 and their impact on insurance premiums and to conduct a cost analysis of legislation mandating new insurance benefits to examine the impact on insurance premiums prior to the adoption of such legislation.
Requires health insurance commissioner to conduct a review of health insurance benefit mandates, including an analysis of the impact on premium costs, conducted every 5 yrs and report findings and recommendations to governor, senate president and speaker.
Requires health insurance commissioner to conduct a review of health insurance benefit mandates, including an analysis of the impact on premium costs, conducted every 5 yrs and report findings and recommendations to governor, senate president and speaker.
Directs the superintendent of financial services to conduct a comprehensive study on mandatory health insurance coverage benefits within the state as compared to other states and the impacts of removing such requirements.
Requires fiscal notes to be included on any bill which imposes a new mandated insurance benefit or service; expands an existing mandated insurance benefit or service, or adds, expands or requires coverage of any benefit or service under the Medicaid fee-for-service program; requires such fiscal notes to include an actuarial analysis of the potential impact on insurance premiums as a result of such new or expanded mandated insurance benefit or service.
Creates the New York health benefit and cost commission to review and report on utilization rates, public and patient health effects, and impact on premiums and access to health care and health coverage of all existing and proposed mandated health benefits.
Directs the New York state department of financial services to conduct a study on the rising costs of motor vehicle insurance in the state which shall include certain analyses and recommendations.
Amends the definition of "small group" for purposes of health insurance policies and contracts to fifty employees or fewer; repeals provisions requiring the superintendent to conduct an impact study.