The latest episode of Ask Tim looks at the new almost-law that allows insurance carriers to write more policies in the so-called Free Trade Zone. I say "almost-law" because, while it has passed both chambers of the New York State Legislature, Gov. Cuomo has not yet signed it, though all indications are that he will.
Summary:
- Carriers can write policies free from rate and form filing approval requirements for "large commercial insureds".
- A large commercial insured generates at least $25,000 in annual commercial insurance premium, employs or retains a "special risk manager," and meets at least one of the following criteria:
- Net worth of $7.5 million or more
- Net worth of $1.5 million or more and gross assets of more than $10 million
- For-profit business with net worth of at least $1.5 million and annual gross revenues of more than $15 million
- For-profit business with annual gross revenues of more than $15 million and gross assets of more than $10 million
- Not-for-profit or public entity with an annual budget of more than $20 million
- Municipality with a population of at least 50,000
- Has at least 50 employees or 100 employees within the corporate structure
- The special risk manager must be a licensed producer who meets specfic educational and experience criteria.
- Carriers must make informational filings, and the law contains other consumer protections.
- The law expires on June 30, 2013.
More information:
I am moving to scottsdale az from nj we currently have cobra through my wifes position but the expense is way to much.
IWe had United Health Plan, I have Hep C and everyone i have called so far in az say they wont cover me.
Any ideas
Posted by: Michael Grala | August 16, 2011 at 09:36 AM
Michael,
I'm sorry to hear about the trouble you're having getting insurance. I suggest you look into the Pre-Existing Condition Insurance Plan for Arizona. This is something created by last year's health care reform law. You can find information at http://www.healthcare.gov/law/provisions/preexisting/states/az.html.
Posted by: Tim Dodge | August 18, 2011 at 07:08 AM