Assembly Bill A345C

Signed By Governor
2023-2024 Legislative Session

Requires certain notices be posted and provided regarding long term care insurance policy changes

download bill text pdf

Sponsored By

Current Bill Status Via S2330 - Signed by Governor

  • 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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Bill Amendments

2023-A345 - Details

See Senate Version of this Bill:
S2330
Law Section:
Insurance Law
Laws Affected:
Amd §1117, Ins L
Versions Introduced in 2021-2022 Legislative Session:
A9244, S4327

2023-A345 - Summary

Requires the superintendent of financial services to make public any rate filing or application submitted by long term care insurance carriers; requires certain notices be provided to policyholders and certificate holders regarding premium rate increases.

2023-A345 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    345
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 6, 2023
                                ___________
 
 Introduced  by M. of A. BURDICK -- read once and referred to the Commit-
   tee on Insurance
 
 AN ACT to amend the insurance law,  in  relation  to  requiring  certain
   notices  be  posted  and  provided  regarding long term care insurance
   policy changes
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subparagraphs (E) and (F) of paragraph 6 of subsection (b)
 of section 1117 of the insurance law, as amended by chapter 424  of  the
 laws  of  2016,  are  amended  and two new subparagraphs (G) and (H) are
 added to read as follows:
   (E) A graphic demonstration of the maximum daily nursing home  benefit
 level  provided  by  the  policy or certificate, and the impact that the
 selection of any inflation protection options would have on such maximum
 daily nursing home benefit level; [and]
   (F) The right of the prospective insured, upon attaining  the  age  of
 sixty-five  years, to designate a third party who will receive a copy of
 any notices of nonpayment of premiums due or notice of cancellation  for
 nonpayment of premiums that is sent to the prospective insured[.];
   (G)  A WRITTEN STATEMENT AS TO THE ANTICIPATED GOOD FAITH INCREASES OF
 PREMIUM RATES FOR SUCH POLICY OR CERTIFICATE OVER THE  NEXT  TEN  YEARS.
 SUCH  STATEMENT  SHALL INCLUDE A LIST OF PAST PREMIUM RATE INCREASES FOR
 SUCH POLICY OR CERTIFICATE OVER THE PREVIOUS TEN YEARS, OR IF SUCH POLI-
 CY OR CERTIFICATE WAS NOT OFFERED OVER  THE  PREVIOUS  TEN  YEARS,  PAST
 PREMIUM  RATE  INCREASES  FOR  SIMILAR POLICIES OR CERTIFICATES OVER THE
 PREVIOUS TEN YEARS; AND
   (H) THE RIGHT OF THE PROSPECTIVE INSURED TO SUBMIT PUBLIC COMMENTS  ON
 ANY  RATE  FILING  OR APPLICATION REGARDING PREMIUM RATES ON THE DEPART-
 MENT'S WEBSITE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01132-01-3
 A. 345                              2

2023-A345A - Details

See Senate Version of this Bill:
S2330
Law Section:
Insurance Law
Laws Affected:
Amd §1117, Ins L
Versions Introduced in 2021-2022 Legislative Session:
A9244, S4327

2023-A345A - Summary

Requires the superintendent of financial services to make public any rate filing or application submitted by long term care insurance carriers; requires certain notices be provided to policyholders and certificate holders regarding premium rate increases.

2023-A345A - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  345--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 6, 2023
                                ___________
 
 Introduced  by M. of A. BURDICK -- read once and referred to the Commit-
   tee on  Insurance  --  committee  discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee
 
 AN  ACT  to  amend  the  insurance law, in relation to requiring certain
   notices be posted and provided  regarding  long  term  care  insurance
   policy changes
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraphs (E) and (F) of paragraph 6 of subsection  (b)
 of  section  1117 of the insurance law, as amended by chapter 424 of the
 laws of 2016, are amended and ten new  subparagraphs (G), (H), (I), (J),
 (K), (L), (M), (N), (O) and (P) are added to read as follows:
   (E) A graphic demonstration of the maximum daily nursing home  benefit
 level  provided  by  the  policy or certificate, and the impact that the
 selection of any inflation protection options would have on such maximum
 daily nursing home benefit level; [and]
   (F) The right of the prospective insured, upon attaining  the  age  of
 sixty-five  years, to designate a third party who will receive a copy of
 any notices of nonpayment of premiums due or notice of cancellation  for
 nonpayment of premiums that is sent to the prospective insured[.];
   (G)  (I)  A  WRITTEN  STATEMENT  AS TO WHETHER THE INSURER ANTICIPATES
 REQUESTING INCREASES OF PREMIUM RATES FOR  SUCH  POLICY  OR  CERTIFICATE
 OVER THE NEXT TEN YEARS; AND
   (II)  A LIST OF PAST PREMIUM RATE INCREASES FOR SUCH POLICY OR CERTIF-
 ICATE OVER THE PREVIOUS TEN YEARS, OR IF SUCH POLICY OR CERTIFICATE  WAS
 NOT OFFERED OVER THE PREVIOUS TEN YEARS, PAST PREMIUM RATE INCREASES FOR
 SIMILAR POLICIES OR CERTIFICATES OVER THE PREVIOUS TEN YEARS;
   (H)  DIRECTIONS  ON  HOW  TO OBTAIN INFORMATION ABOUT THE DEPARTMENT'S
 REVIEW OF ANY RATE FILING OR APPLICATION, CONTACT  INFORMATION  FOR  THE
 DEPARTMENT,  AND  INFORMATION  ON  HOW  TO  CONTACT THE INSURER FOR MORE
 INFORMATION;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01132-03-3

co-Sponsors

2023-A345B - Details

See Senate Version of this Bill:
S2330
Law Section:
Insurance Law
Laws Affected:
Amd §1117, Ins L
Versions Introduced in 2021-2022 Legislative Session:
A9244, S4327

2023-A345B - Summary

Requires the superintendent of financial services to make public any rate filing or application submitted by long term care insurance carriers; requires certain notices be provided to policyholders and certificate holders regarding premium rate increases.

2023-A345B - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  345--B
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 6, 2023
                                ___________
 
 Introduced  by M. of A. BURDICK -- read once and referred to the Commit-
   tee on  Insurance  --  committee  discharged,  bill  amended,  ordered
   reprinted  as  amended  and  recommitted  to  said  committee -- again
   reported from said committee with  amendments,  ordered  reprinted  as
   amended and recommitted to said committee

 AN  ACT  to  amend  the  insurance law, in relation to requiring certain
   notices be posted and provided  regarding  long  term  care  insurance
   policy changes
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraphs (E) and (F) of paragraph 6 of subsection  (b)
 of  section  1117 of the insurance law, as amended by chapter 424 of the
 laws of 2016, are amended and ten new  subparagraphs (G), (H), (I), (J),
 (K), (L), (M), (N), (O) and (P) are added to read as follows:
   (E) A graphic demonstration of the maximum daily nursing home  benefit
 level  provided  by  the  policy or certificate, and the impact that the
 selection of any inflation protection options would have on such maximum
 daily nursing home benefit level; [and]
   (F) The right of the prospective insured, upon attaining  the  age  of
 sixty-five  years, to designate a third party who will receive a copy of
 any notices of nonpayment of premiums due or notice of cancellation  for
 nonpayment of premiums that is sent to the prospective insured[.];
   (G)  (I)  A  WRITTEN  STATEMENT  AS TO WHETHER THE INSURER ANTICIPATES
 REQUESTING INCREASES OF PREMIUM RATES FOR  SUCH  POLICY  OR  CERTIFICATE
 OVER THE NEXT TEN YEARS; AND
   (II)  A LIST OF PAST PREMIUM RATE INCREASES FOR SUCH POLICY OR CERTIF-
 ICATE OVER THE PREVIOUS TEN YEARS, OR IF SUCH POLICY OR CERTIFICATE  WAS
 NOT OFFERED OVER THE PREVIOUS TEN YEARS, PAST PREMIUM RATE INCREASES FOR
 SIMILAR POLICIES OR CERTIFICATES OVER THE PREVIOUS TEN YEARS;
   (H)  DIRECTIONS  ON  HOW  TO OBTAIN INFORMATION ABOUT THE DEPARTMENT'S
 REVIEW OF ANY RATE FILING OR APPLICATION, CONTACT  INFORMATION  FOR  THE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01132-04-3

co-Sponsors

2023-A345C (ACTIVE) - Details

See Senate Version of this Bill:
S2330
Law Section:
Insurance Law
Laws Affected:
Amd §1117, Ins L
Versions Introduced in 2021-2022 Legislative Session:
A9244, S4327

2023-A345C (ACTIVE) - Summary

Requires the superintendent of financial services to make public any rate filing or application submitted by long term care insurance carriers; requires certain notices be provided to policyholders and certificate holders regarding premium rate increases.

2023-A345C (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  345--C
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 6, 2023
                                ___________
 
 Introduced  by M. of A. BURDICK, WEPRIN -- read once and referred to the
   Committee on Insurance -- committee discharged, bill amended,  ordered
   reprinted  as  amended  and  recommitted  to  said  committee -- again
   reported from said committee with  amendments,  ordered  reprinted  as
   amended  and recommitted to said committee -- reported and referred to
   the Committee on Rules -- Rules Committee  discharged,  bill  amended,
   ordered reprinted as amended and recommitted to the Committee on Rules
 
 AN  ACT  to  amend  the  insurance law, in relation to requiring certain
   notices be posted and provided  regarding  long  term  care  insurance
   policy changes
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraphs (E) and (F) of paragraph 6 of subsection  (b)
 of  section  1117 of the insurance law, as amended by chapter 424 of the
 laws of 2016, are amended and ten new  subparagraphs (G), (H), (I), (J),
 (K), (L), (M), (N), (O) and (P) are added to read as follows:
   (E) A graphic demonstration of the maximum daily nursing home  benefit
 level  provided  by  the  policy or certificate, and the impact that the
 selection of any inflation protection options would have on such maximum
 daily nursing home benefit level; [and]
   (F) The right of the prospective insured, upon attaining  the  age  of
 sixty-five  years, to designate a third party who will receive a copy of
 any notices of nonpayment of premiums due or notice of cancellation  for
 nonpayment of premiums that is sent to the prospective insured[.];
   (G) (I) A WRITTEN STATEMENT INDICATING THAT SUCH POLICY OR CERTIFICATE
 MAY  BE  SUBJECT  TO  FUTURE  PREMIUM  RATE INCREASES AND THAT SUCH RATE
 INCREASES SHALL BE SUBJECT TO THE APPROVAL OR MODIFICATION OF THE SUPER-
 INTENDENT; AND
   (II) A LIST OF PAST PREMIUM RATE INCREASES FOR SUCH POLICY OR  CERTIF-
 ICATE  OVER THE PREVIOUS TEN YEARS, OR IF SUCH POLICY OR CERTIFICATE WAS
 NOT OFFERED OVER THE PREVIOUS TEN YEARS, PAST PREMIUM RATE INCREASED FOR
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD01132-10-3

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