Law360, New York (May 08, 2012, 6:14 PM ET) -- New York state said Tuesday that it had fined 15 insurers nearly $2.7 million for failing to notify small businesses that they were eligible to buy special insurance coverage for mental illnesses and children with severe emotional disturbances, as required by state law.
The state Department of Financial Services said the penalties represent the first time insurers have been fined for violations of Timothy’s Law, which requires insurers to give employers with less than 50 employees the option of purchasing extended mental health benefits when they...
NY Fines Insurers $2.7M For Hiding Mental Health Option
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