Health Care - Payment Reform Survey

This report summarizes the findings of DFS’s survey of health insurers’ pilot programs to move to value-based provider payments and other initiatives to reduce health care costs and improve quality. The report will help state agencies, legislators and other stakeholders identify successes, consider reforms that encourage innovation, increase standardization and multipayer alignment, and bring successful efforts to scale. In particular, this report will provide a baseline for the State Health Innovation Plan (SHIP), New York’s blueprint for achieving the Triple Aim that is being developed by the New York State Department of Health (DOH), New York State Department of Financial Services (DFS), New York State Department of Civil Service, the New York State Division of Budget, and other agencies, in consultation with payers, providers, brokers, businesses and consumers.

Payment Reform Survey - Issued July, 2014 (PDF)

Community Banking Report

The Community Banking Report shows that community banks provide most of the loans for New York’s small businesses and farms and are thus essential to job growth and the strength of the state economy. Even though community banks have less than a quarter of all bank assets in New York and are competing against much larger national banks, they generate more than half of all small business loans and almost all the small farm loans in the State.

Community Banking Report - Issued February 7, 2013 (PDF)

Unexpected Out-of-Network Medical Bills Report

The Department of Financial Services is investigating unexpected out-of-network medical costs affecting New Yorkers across the state, many of whom cannot afford to pay out-of-pocket expenses. In addition, DFS released the following report that finds an overwhelming need for increased transparency from insurers and medical service providers, and improved consumer protection measures to ensure that New Yorkers stop receiving unexpected bills. The investigation was sparked by an overwhelming amount of consumer complaints. DFS found that unexpected out-of-network medical bills are one of the most common complaints received by the agency.

• AN UNWELCOME SURPRISE: How New Yorkers Are Getting Stuck with Unexpected Medical Bills from Out-of-Network Providers - Issued March 7, 2012 (PDF)

Working Group Report

This report, required under Section 205 of the Financial Services Law, summarizes select issues that the DFS working group, formed to examine ways to improve the efficiency and effectiveness of banking regulation and insurance regulation, found to be the top recommendations provided from the banking, insurance and financial services industries. In addition, this report highlights DFS accomplishments to date, as well as the steps DFS has taken and will take to make regulation more efficient and effective.

• Ways to Improve Efficiency and Effectiveness of Regulation - Issued December 30, 2011 (PDF)

Miscellaneous Reports

The reports in this section are in PDF format.

• Automobile Insurance Policies and the 2% Rule - March 2014
• Cyber Security Reports
  1. Report on Cyber Security in the Banking Sector - May 2014
  2. Report on Cyber Security in the Insurance Sector - February 2015
  3. Update on Cyber Security in the Banking Sector: Third Party Service Providers - April 2015
• Shining A Light On Shadow Insurance - June 2013
• Report on the Hospital Excess Liability Pool - December 2012
• Report on Municipal Cooperatives and Community Rating - December 2011
• Municipal Cooperative Reserve Requirements Report - December 2011
• The Insurance Industry and the Economies of Central and Eastern Europe, 1918 - 1945 - Holocaust Claims Processing Office - October 2011