Provides that certain charitable annuities may be unisex in nature and shall be computed on the basis of currently applicable mortality tables for calculating the reserves for individual annuities; makes related provisions.
Establishes standards for policies issued by a group self-insurer for municipal corporations, public corporations, county self-insurance plans, boards of cooperative educational services and consortia established by boards of cooperative educational services.
Authorizes and empowers the College Retirement Equities Fund (CREF) to merge with the Teachers Insurance and Annuity Association (TIAA) with CREF ceasing to be a corporate entity and TIAA as the surviving entity.
Ensures that step therapy shall not apply to medically necessary prescription drugs in the dermatologic, hematology, ophthalmologic, rheumatic, gastrointestinal, neurology, and oncology therapeutic classes, including non-formulary drugs.
Relates to coverage for certain benefits under comprehensive motor vehicle insurance; prohibits assignment of benefits to durable medical equipment providers unless approved.
Relates to prohibitions on rebating and discrimination in rates and payments under insurance policies; provides that certain services shall not be considered to be an inducement or rebate unless the superintendent determines that the offer and sale of such services constituted the sole reason for the purchase of such insurance policy.
Relates to notice of disclaimer of liability for certain revived causes of action; provides such notice shall occur within 120 days after the insurer has received actual notice of such revived claim or cause of action.