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NYSIF is financially self-supporting and competes with private insurance carriers. It is required by law to provide the lowest possible premiums to maintain its solvency. [ 1 ] As of 2015, NYSIF was the largest workers' compensation insurance carrier in New York, with 46% of the market, and that year it earned $2.48 billion in premiums, placing ...
Mark Bertolini, chief executive officer of Oscar Health and previous CEO of Aetna [1] Gail Koziara Boudreaux, chief executive officer and president of Elevance Health [2] Thomas B. Considine, chief executive officer of the National Conference of Insurance Legislators and former chief operating officer of MagnaCare [3]
Health Insurance Plan of Greater New York (HIP) was incorporated in 1944 as the first health insurance plan for public service workers. [9] The company was founded by David M. Heyman with the support of New York City mayor Fiorello La Guardia, who wanted to offer medical services to New Yorkers of “moderate means.” [10] HIP got its first members in 1947.
In an "excess" or "supplemental" travel insurance policy where there is a 'first payer' clause, through the subrogation process an insurer is legally entitled to seek cost-sharing up to a certain percentage from a member's private group health insurance provider after the insurer pays out a travel insurance claim. [10]
The first reported judicial decision involving an effort of a health insurer to seek subrogation on a personal injury claim is the 1982 decision in Frost v. Porter Leasing Corp., 436 N.E.2d 387 (Mass. 1982) in which subrogation was denied. “ERISA reimbursement” claims began arising in the late 1980s and have been resisted by some federal ...
Montanile's health plan paid for $121,044.02 of his initial expenses, and he subsequently signed an agreement "reaffirming his obligation to reimburse the plan from any recovery he obtained". [9] After receiving this disbursement, Montanile filed suit against the driver that caused his injuries and ultimately obtained a settlement valued at ...
EBRI interviewed employers for the study, and found that others might follow if a major employer discontinued health benefits. Effective by January 1, 2014, the Patient Protection and Affordable Care Act will impose a $2000 per employee tax penalty on employers with over 50 employees who do not offer health insurance to their full-time workers ...
The New York State Constitution, Art.X, sec. 5, provides that public benefit corporations may only be created by special act of the legislature. In City of Rye v. MTA, 24 N.Y.2d 627 (1969), the court of appeals explained that "The debates of the 1938 Convention indicate that the proliferation of public authorities after 1927 was the reason for the enactment of section 5 of article X....
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