New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter XIV - Individual And Small Group Health Insurance
Part 364 - Paid Family Leave Risk Adjustment Fund
Section 364.1 - Preamble

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 364.1

Current through Register Vol. 46, No. 12, March 20, 2024

(a) Pursuant to the authority granted in, among other things, Insurance Law section 4235(n), the superintendent previously determined that family leave benefits provided by issuers shall be subject to a risk adjustment mechanism for calendar year 2018. Additionally, pursuant to section 363.5(b) of this Title, the superintendent in consultation with the chair of the workers' compensation board may determine whether the family leave benefits coverage provided by issuers in subsequent years will be subject to a risk adjustment mechanism.

(b) It is necessary for the implementation of the risk adjustment mechanism established by section 363.5 of this Title that a fund be established to hold the risk adjustment pools required to receive the payments and make the disbursements called for by that section.

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