S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6280
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               April 3, 2023
                                ___________
 
 Introduced by M. of A. WEPRIN -- read once and referred to the Committee
   on Insurance
 
 AN  ACT to amend the insurance law, in relation to an extended free look
   period for senior  citizens  purchasing  individual  health  insurance
   policies or contracts
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 10 of subsection  (c)  of  section  3216  of  the
 insurance  law,  as amended by section 31 of part B of chapter 58 of the
 laws of 2004, is amended to read as follows:
   (10) (A) There is prominently printed on the  first  page  thereof  or
 there is attached thereto a notice to the effect that during a specified
 period  of  time,  which  shall  not be less than ten days nor more than
 twenty days from the date the policy is delivered to  the  policyholder,
 it may be surrendered to the insurer together with a written request for
 cancellation of the policy and in such event the insurer will refund any
 premium  paid  therefor  including  any  policy  fees or other charges[,
 provided, however, that this paragraph shall not apply to single premium
 nonrenewable policies insuring  against  accidents  only  or  accidental
 bodily injuries only; provided, however, that].
   (B)  NOTWITHSTANDING  SUBPARAGRAPH (A) OF THIS PARAGRAPH, a [contract]
 POLICY or certificate sold by mail order [and]; a [contract]  POLICY  or
 certificate  providing  medicare  supplemental  insurance  COVERING  ANY
 INSURED UNDER AGE SIXTY-FIVE ON THE EFFECTIVE DATE  OF  COVERAGE;  or  A
 POLICY OR CERTIFICATE PROVIDING long-term care insurance [must] COVERING
 ANY INSURED UNDER AGE SIXTY-FIVE ON THE EFFECTIVE DATE OF COVERAGE SHALL
 contain a provision, OR SHALL HAVE ATTACHED THERETO A NOTICE, permitting
 the [contract] POLICY or certificate holder a thirty day period for such
 surrender AS DESCRIBED IN SUBPARAGRAPH (A) OF THIS PARAGRAPH.
   (C)  NOTWITHSTANDING SUBPARAGRAPH (A) OF THIS PARAGRAPH, A POLICY SOLD
 TO ANY INSURED WHO IS AGE SIXTY-FIVE OR OLDER ON THE EFFECTIVE  DATE  OF
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09640-01-3
              

 A. 6280                             2
 
 COVERAGE  SHALL  HAVE  PROMINENTLY  PRINTED ON THE FIRST PAGE THEREOF OR
 ATTACHED THERETO A NOTICE TO THE EFFECT THAT, FOR  A  PERIOD  OF  NINETY
 DAYS  FROM  THE  DATE  THE  POLICY IS DELIVERED TO THE POLICYHOLDER, THE
 POLICY MAY BE SURRENDERED TO THE INSURER TOGETHER WITH A WRITTEN REQUEST
 FOR  CANCELLATION  OF  THE  POLICY;  AND IN SUCH EVENT, THE INSURER WILL
 REFUND ANY PREMIUM PAID THEREFOR INCLUDING  ANY  POLICY  FEES  OR  OTHER
 CHARGES  PROVIDED  THAT  NO  CLAIM  FOR  BENEFITS HAS BEEN INCURRED. THE
 NOTICE SHALL ALSO STATE THAT, IN THE EVENT A CLAIM FOR BENEFITS HAS BEEN
 INCURRED UNDER THE POLICY WITHIN THE TIME PERIOD FROM THE EFFECTIVE DATE
 OF COVERAGE UNTIL NINETY DAYS FROM THE DATE THE POLICY IS  DELIVERED  TO
 THE  POLICYHOLDER,  THE  INSURER  WILL  REFUND ANY PREMIUM PAID THEREFOR
 INCLUDING ANY POLICY FEES OR OTHER CHARGES LESS ANY AMOUNTS THE  INSURER
 HAS PAID ON CLAIMS FOR BENEFITS UNDER THE POLICY.
   (D)  THIS  PARAGRAPH  SHALL  NOT  APPLY TO SINGLE PREMIUM NONRENEWABLE
 POLICIES INSURING AGAINST ACCIDENTS ONLY OR ACCIDENTAL  BODILY  INJURIES
 ONLY.
   §  2.  Subsection (h) of section 4306 of the insurance law, as amended
 by section 32 of part B of chapter 58 of the laws of 2004, is amended to
 read as follows:
   (h) (1) a statement on the first page of the contract or in  a  notice
 attached  to  the contract that during a specified period of time, which
 shall not be less than ten days nor more than twenty days from the  date
 the  contract  is  delivered to the individual, it may be surrendered to
 the corporation together with a written request for cancellation of  the
 contract  and that in such event the corporation will refund any premium
 paid therefor including any contract fees or other  charges;  [provided,
 however, that]
   (2)  NOTWITHSTANDING PARAGRAPH ONE OF THIS SUBSECTION, a contract sold
 by mail order [and]; a contract providing medicare  supplemental  insur-
 ance  COVERING ANY INDIVIDUAL UNDER AGE SIXTY-FIVE ON THE EFFECTIVE DATE
 OF COVERAGE; or A CONTRACT PROVIDING  long-term  care  insurance  [must]
 COVERING  ANY  INDIVIDUAL  UNDER AGE SIXTY-FIVE ON THE EFFECTIVE DATE OF
 COVERAGE SHALL contain a provision, OR SHALL  HAVE  ATTACHED  THERETO  A
 NOTICE, permitting the individual a thirty day period for such surrender
 AS DESCRIBED IN PARAGRAPH ONE OF THIS SUBSECTION;
   (3)  NOTWITHSTANDING PARAGRAPH ONE OF THIS SUBSECTION, A CONTRACT SOLD
 TO ANY INSURED WHO IS AGE SIXTY-FIVE OR OLDER ON THE EFFECTIVE  DATE  OF
 COVERAGE  SHALL HAVE A STATEMENT ON THE FIRST PAGE OF THE CONTRACT OR IN
 A NOTICE ATTACHED TO THE CONTRACT THAT, FOR A PERIOD OF NINETY DAYS FROM
 THE DATE THE CONTRACT IS DELIVERED TO THE INDIVIDUAL, THE  CONTRACT  MAY
 BE  SURRENDERED  TO  THE CORPORATION TOGETHER WITH A WRITTEN REQUEST FOR
 CANCELLATION OF THE CONTRACT, AND THAT, IN SUCH EVENT,  THE  CORPORATION
 WILL  REFUND  ANY  PREMIUM  PAID THEREFOR INCLUDING ANY CONTRACT FEES OR
 OTHER CHARGES PROVIDED NO CLAIM FOR  BENEFITS  HAS  BEEN  INCURRED.  THE
 STATEMENT  OR  NOTICE  SHALL  ALSO  STATE THAT, IN THE EVENT A CLAIM FOR
 BENEFITS HAS BEEN INCURRED UNDER THE CONTRACT  WITHIN  THE  TIME  PERIOD
 FROM  THE EFFECTIVE DATE OF COVERAGE UNTIL NINETY DAYS FROM THE DATE THE
 CONTRACT IS DELIVERED TO THE INDIVIDUAL, THE CORPORATION WILL REFUND ANY
 PREMIUM PAID THEREFOR INCLUDING ANY CONTRACT FEES OR OTHER CHARGES  LESS
 ANY  AMOUNTS  THE  CORPORATION HAS PAID ON CLAIMS FOR BENEFITS UNDER THE
 CONTRACT;
   § 3. This act shall take effect on the one hundred eightieth day after
 it shall have become a law and shall apply to  all  insured  individuals
 whose  effective  date  of coverage is on or after the effective date of
 this act.