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Senate Bill S5203

2025-2026 Legislative Session

Requires insurers which issue contracts providing long term care benefits to maintain records of policies cancelled due to increased premiums

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Sponsored By

Current Bill Status - In Senate Committee Insurance Committee

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2025-S5203 (ACTIVE) - Details

See Assembly Version of this Bill:
A7274
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §1117, Ins L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4167
2011-2012: A6098
2013-2014: A5601
2015-2016: A3436
2017-2018: A2044
2019-2020: S5504, A4545
2021-2022: S5531, A3167
2023-2024: S5589, A5997

2025-S5203 (ACTIVE) - Summary

Requires insurers which issue contracts providing long term care benefits to maintain records of policies cancelled during each year and requires that such records indicate which policies were cancelled due to, or within thirty days after, an increase in policy premiums.

2025-S5203 (ACTIVE) - Sponsor Memo

2025-S5203 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5203
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 19, 2025
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Insurance
 
 AN ACT to amend the insurance law, in relation to health insurance plans
   for long term care
 
   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 (m) to read as follows:
   (M) ANY AUTHORIZED INSURER WHICH ISSUES CONTRACTS IN  CONNECTION  WITH
 PLANS  PROVIDING  BENEFITS FOR LONG TERM CARE PURSUANT TO THE PROVISIONS
 OF THIS SECTION SHALL PREPARE AND MAINTAIN RECORDS WHICH LIST THE NUMBER
 OF SUCH POLICIES CANCELLED DURING EACH YEAR.  SUCH  RECORDS  SHALL  ALSO
 INDICATE  WHICH  POLICIES  WERE  CANCELLED DUE TO, OR WITHIN THIRTY DAYS
 AFTER, AN INCREASE IN POLICY PREMIUMS.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD06019-01-5

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