New York S03814 imposes a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health.

New York S03814 amends the insurance law to impose a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance organizations. The tax, set at 9.63%, applies to funds deriving from subscriber prepayments or premiums received for commercial programs. The tax is to be paid to the superintendent and deposited into the New York state agency trust fund, distressed provider assistance account.

New York S03814 imposes a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health.

New York S03814 amends the insurance law to impose a tax on out-of-state transfers, dividends, payments, and loans by certain accident and health insurance companies and health maintenance organizations. The tax, set at 9.63%, applies to funds deriving from subscriber prepayments or premiums received for commercial programs. The tax is to be paid to the superintendent and deposited into the New York state agency trust fund, distressed provider assistance account.