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Senate Bill S8428

2023-2024 Legislative Session

Requires the department of financial services publish a report on long-term care insurance rates

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance Committee

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2023-S8428 (ACTIVE) - Details

See Assembly Version of this Bill:
A9343
Current Committee:
Senate Insurance
Law Section:
Insurance Law
Laws Affected:
Add §204, Ins L
Versions Introduced in 2025-2026 Legislative Session:
S5723, A3801

2023-S8428 (ACTIVE) - Summary

Requires the department of financial services publish a report on long-term care insurance rates including historical rates and the dates and amounts of any rate changes.

2023-S8428 (ACTIVE) - Sponsor Memo

2023-S8428 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8428
 
                             I N  S E N A T E
 
                             January 29, 2024
                                ___________
 
 Introduced  by  Sen. SKOUFIS -- 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 requiring the  depart-
   ment  of  financial services publish a report on long-term care insur-
   ance rates
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The insurance law is amended by adding a new section 204 to
 read as follows:
   §  204.  REPORT  ON LONG-TERM CARE INSURANCE PLAN OR POLICY RATES. THE
 SUPERINTENDENT SHALL PUBLISH A REPORT ON THE DEPARTMENT'S WEBSITE  WHICH
 SHALL INCLUDE, BUT NOT BE LIMITED TO:
   1.  THE  LONG-TERM CARE INSURANCE PLAN OR POLICY RATES BY ALL INSURERS
 SUBJECT TO THE PROVISIONS OF THIS CHAPTER;
   2. THE HISTORICAL LONG-TERM CARE INSURANCE PLAN OR POLICY RATES BY ALL
 INSURERS SUBJECT TO THE PROVISIONS OF THIS CHAPTER  FOR  THE  PRIOR  TEN
 YEARS; AND
   3. THE DATES AND AMOUNTS OF ANY CHANGES TO SUCH RATES.
   §  2.  This  act shall take effect on the ninetieth day after it shall
 have become a law.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13778-01-3

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