Assembly Bill A7255

2019-2020 Legislative Session

Relates to increases in premium rates for long-term care insurance

download bill text pdf

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Archive: Last 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

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2019-A7255 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §1117, Ins L

2019-A7255 (ACTIVE) - Summary

Provides that no increase in premium rates for long-term care insurance in an amount in excess of 25 percent in one year shall be effective without authorization by concurrent resolution of the senate and assembly.

2019-A7255 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7255
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 18, 2019
                                ___________
 
 Introduced  by  M. of A. KOLB -- read once and referred to the Committee
   on Insurance
 
 AN ACT to amend the insurance law, in relation to increases  in  premium
   rates for long-term care insurance
 
   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)  NO  REQUEST  FOR  AN INCREASE IN PREMIUM RATES FOR LONG-TERM CARE
 INSURANCE WHICH HAS BEEN APPROVED BY THE SUPERINTENDENT IN AN AMOUNT  IN
 EXCESS OF TWENTY-FIVE PERCENT IN ONE YEAR SHALL BE EFFECTIVE UNLESS SUCH
 PREMIUM  RATE  INCREASE  HAS BEEN AUTHORIZED BY CONCURRENT RESOLUTION OF
 THE SENATE AND ASSEMBLY.
   § 2. This act shall take effect immediately and  shall  apply  to  all
 policies  and contracts issued, renewed, modified, altered or amended on
 or after such date.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11090-01-9

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