Assembly Bill A2283

2023-2024 Legislative Session

Provides for transparency in long term care insurance rates

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2023-A2283 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §1117, Ins L
Versions Introduced in Other Legislative Sessions:
2019-2020: A8398
2021-2022: A6730

2023-A2283 (ACTIVE) - Summary

Provides for transparency in long term care insurance rates.

2023-A2283 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2283
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 25, 2023
                                ___________
 
 Introduced  by  M.  of  A.  BARCLAY,  LEMONDES, DeSTEFANO, J. M. GIGLIO,
   BLANKENBUSH -- read once and referred to the Committee on Insurance
 
 AN ACT to amend the insurance law, in relation to providing transparency
   in long term care insurance rates
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  1117 of the insurance law is amended by adding a
 new subsection (h) to read as follows:
   (H) (1) ALL RATE FILING APPLICATIONS CONCERNING  POLICIES  COVERED  BY
 THE PROVISIONS OF THIS SECTION SHALL INCLUDE A PLAIN LANGUAGE SUMMARY OF
 SUCH APPLICATION IN A CLEAR AND CONSPICUOUS READABLE FORMAT.
   (2)  PRIOR  TO  THE SUBMISSION OF ANY RATE FILING APPLICATION WITH THE
 DEPARTMENT, AN INSURER COVERED BY THE PROVISIONS OF THIS  SECTION  SHALL
 NOTIFY  POLICYHOLDERS  OF  ANY PROPOSED RATE INCREASE. SUCH NOTIFICATION
 SHALL INCLUDE A STATEMENT DESCRIBING HOW THE  RATE  FILING  WILL  IMPACT
 POLICYHOLDERS,  A  JUSTIFICATION FOR THE RATE FILING, A GOOD FAITH ESTI-
 MATE, SPECIFIC TO THE  POLICYHOLDER, OF THE POLICYHOLDER'S RENEWAL  RATE
 IF  THE  RATE  FILING  APPLICATION IS APPROVED, AND A COMPARISON OF SUCH
 RATE ALONG WITH THE RATE SUCH POLICYHOLDER WOULD PAY IF SUCH    APPLICA-
 TION IS NOT APPROVED BY THE DEPARTMENT. SUCH NOTICE SHALL ALSO PROVIDE A
 LINK  TO A  WEBSITE WHERE THE POLICYHOLDER MAY REVIEW A COMPLETE COPY OF
 SUCH RATE FILING APPLICATION.
   (3) THE DEPARTMENT SHALL POST ALL RATE FILING APPLICATIONS  CONCERNING
 POLICIES  COVERED  BY  THIS  SECTION ON ITS WEBSITE WITHIN SEVEN DAYS OF
 RECEIPT OF ANY SUCH APPLICATION.
   (4) THE DEPARTMENT SHALL ACCEPT COMMENTS FROM POLICYHOLDERS CONCERNING
 ANY SUCH RATE FILING APPLICATION FOR A PERIOD OF  FORTY-FIVE  DAYS  FROM
 THE  DATE  ON  WHICH  SUCH APPLICATION WAS FILED WITH THE DEPARTMENT AND
 SHALL CONSIDER ALL SUCH COMMENTS IN ITS ADJUDICATION  OF  SUCH  APPLICA-
 TION.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05945-01-3

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.