It’s a little known provision of the new national health care law: insurance companies that don’t spend patients’ money wisely have to pay a penalty. They’ll have to refund $1.4 billion to nine million consumers this summer, including many in the Tri-State Area.
“This is a victory for individual New Yorkers and clean government and clean campaign finance,” said City Council Speaker Christine Quinn.
The American Beverage Association reportedly led lobbying in the state with nearly $13 million and helped defeat an effort to put a penny-per-ounce tax on sugary drinks.
Andrew Cuomo said Wednesday that he reached a settlement with one of Albany’s most influential lobbyists that would ban her from appearing before the state comptroller for five years.
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