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Assembly Bill A5997

2023-2024 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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Archive: Last Bill Status - In Assembly Committee

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2023-A5997 (ACTIVE) - Details

See Senate Version of this Bill:
S5589
Current Committee:
Assembly 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: A4545, S5504
2021-2022: A3167, S5531
2025-2026: A7274, S5203

2023-A5997 (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.

2023-A5997 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5997
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 30, 2023
                                ___________
 
 Introduced  by  M. of A. COOK, PEOPLES-STOKES, GUNTHER, TAYLOR, BUTTENS-
   CHON, WILLIAMS, BICHOTTE HERMELYN -- Multi-Sponsored by --  M.  of  A.
   HYNDMAN, SIMON -- read once and referred 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 (h) to read as follows:
   (H)  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.
                                                            LBD04057-01-3

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