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.
S T A T E O F N E W Y O R K
________________________________________________________________________
7274
2025-2026 Regular Sessions
I N A S S E M B L Y
March 21, 2025
___________
Introduced by M. of A. COOK, PEOPLES-STOKES, TAYLOR, BUTTENSCHON,
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 (m) to read as follows:
(M) 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.
LBD06019-01-5
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