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County proposes $3 million reserve and expanded indemnification to form REACH health cooperative
Summary
Albany County officials presented two linked resolutions to create a $3 million reserve required under New York Insurance Law and to expand indemnification coverage for county officers and employees involved in the formation and administration of the REACH health cooperative.
Albany County officials presented two linked resolutions to help form a regional expansion of a county-centered healthcare cooperative called REACH (regional expansion of Albany County Healthcare Cooperative). Staff asked the committee to approve (1) a transfer of $3 million from the county fund balance into a newly created human-resources budget line to serve as the reserve required under Article 47 of the New York State Insurance Law, and (2) an amendment to Resolution 164 of 1993 to expand…
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