|
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
|---|---|
| Nov 17, 2023 |
signed chap.655 |
| Nov 13, 2023 |
delivered to governor |
| Jun 10, 2023 |
returned to senate passed assembly ordered to third reading rules cal.613 substituted for a345c |
| Jun 08, 2023 |
referred to insurance returned to assembly repassed senate |
| Jun 05, 2023 |
amended on third reading 2330b |
| May 31, 2023 |
amended on third reading 2330a |
| May 31, 2023 |
vote reconsidered - restored to third reading returned to senate recalled from assembly |
| Mar 30, 2023 |
referred to insurance delivered to assembly passed senate |
| Feb 15, 2023 |
advanced to third reading |
| Feb 14, 2023 |
2nd report cal. |
| Feb 13, 2023 |
1st report cal.346 |
| Jan 19, 2023 |
referred to insurance |
Senate Bill S2330B
Signed By Governor2023-2024 Legislative Session
Sponsored By
(D, WF) 37th Senate District
Current Bill Status - 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
Actions
Votes
Bill Amendments
2023-S2330 - Details
2023-S2330 - Sponsor Memo
BILL NUMBER: S2330
SPONSOR: MAYER
TITLE OF BILL:
An act to amend the insurance law, in relation to requiring certain
notices be posted and provided regarding long term care insurance policy
changes
PURPOSE:
To increase transparency in the long-term care insurance premium rate
increase approval process by providing for additional communications to
insureds by the Department of Financial Services with respect to a rate
increase application and the ability for public comment, to require that
the best interest of the policyholders be considered by the Department
of Financial Services when making a determination as to such applica-
tion, to require additional disclosures to policyholders by insurance
companies, and to ensure a high minimum loss ratio standard for premium
increases for long-term care insurance policies.
SUMMARY OF SPECIFIC PROVISIONS:
2023-S2330 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
2330
2023-2024 Regular Sessions
I N S E N A T E
January 19, 2023
___________
Introduced by Sen. MAYER -- 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 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.
LBD01132-02-3
S. 2330 2
2023-S2330A - Details
2023-S2330A - Sponsor Memo
BILL NUMBER: S2330A
SPONSOR: MAYER
TITLE OF BILL:
An act to amend the insurance law, in relation to requiring certain
notices be posted and provided regarding long term care insurance policy
changes
PURPOSE:
To increase transparency in the long-term care insurance premium rate
increase approval process by providing for additional communications to
insureds by the Department of Financial Services with respect to a rate
increase application and the ability for public comment, to require that
the best interest of the policyholders be considered by the Department
of Financial Services when making a determination as to such applica-
tion, to require additional disclosures to policyholders by insurance
companies, and to ensure a high minimum loss ratio standard for premium
increases for longterm care insurance policies.
SUMMARY OF SPECIFIC PROVISIONS:
2023-S2330A - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
2330--A
Cal. No. 346
2023-2024 Regular Sessions
I N S E N A T E
January 19, 2023
___________
Introduced by Sen. MAYER -- read twice and ordered printed, and when
printed to be committed to the Committee on Insurance -- reported
favorably from said committee, ordered to first and second report,
ordered to a third reading, passed by Senate and delivered to the
Assembly, recalled, vote reconsidered, restored to third reading,
amended and ordered reprinted, retaining its place in the order of
third reading
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;
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
2023-S2330B (ACTIVE) - Details
2023-S2330B (ACTIVE) - Sponsor Memo
BILL NUMBER: S2330B
SPONSOR: MAYER
TITLE OF BILL:
An act to amend the insurance law, in relation to requiring certain
notices be posted and provided regarding long term care insurance policy
changes
PURPOSE:
To increase transparency in the long-term care insurance premium rate
increase approval process by providing for additional communications to
insureds by the Department of Financial Services with respect to a rate
increase application and the ability for public comment, to require that
the best interest of the policyholders be considered by the Department
of Financial Services when making a determination as to such applica-
tion, to require additional disclosures to policyholders by insurance
companies, and to ensure a high minimum loss ratio standard for premium
increases for longterm care insurance policies.
SUMMARY OF SPECIFIC PROVISIONS:
2023-S2330B (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
2330--B
Cal. No. 346
2023-2024 Regular Sessions
I N S E N A T E
January 19, 2023
___________
Introduced by Sen. MAYER -- read twice and ordered printed, and when
printed to be committed to the Committee on Insurance -- reported
favorably from said committee, ordered to first and second report,
ordered to a third reading, passed by Senate and delivered to the
Assembly, recalled, vote reconsidered, restored to third reading,
amended and ordered reprinted, retaining its place in the order of
third reading -- again amended and ordered reprinted, retaining its
place in the order of third reading
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
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
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