What's happening
This bill requires insurers offering long-term care plans to track and report policy cancellations, especially those following premium increases.
Why it matters
Shines a light on consumer impact. By requiring insurers to track and specify when policy cancellations occur after premium increases, the bill could reveal how often price hikes force policyholders—often older adults—to drop essential long-term care coverage.
Helps regulators and lawmakers spot harmful trends. Regular reporting on cancellations linked to premium increases gives oversight bodies data needed to assess whether insurers are pricing people out of coverage, potentially prompting further consumer protections.
Empowers consumers and advocates. Public or regulatory access to this information can strengthen advocates’ ability to push for fairer practices in the long-term care insurance market, and may inform consumers when choosing a policy or provider.
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Who cares
Headline styles
Track Cancelled LTC Policies
Plain English, a few words. Used as the page title.
Sponsors
Senator · Senate District 14
No co-sponsors yet.
History
- Referred to insurance
- Referred to insurance
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Track Canceled Care Policies
In Assembly Committee · Insurance · Sponsor Vivian Cook
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
5504
2019-2020 Regular Sessions
IN SENATE
May 3, 2019
Introduced by Sen. COMRIE -- 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 health insurance plans for long term care
The People of the State of New York, represented in Senate and Assembly, 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.
LBD07984-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the insurance law, in relation to health insurance plans for long term care
Purpose or general idea of bill
This bill would require that insurance companies that issue contracts providing long term care benefits maintain records of policies cancelled during each year and that such records indicate which policies were cancelled due to, or within thirty days after, an increase in policy premiums.
Summary of specific provisions
Section 1117 of the insurance law is amended by adding a new subsection (h).
Justification
This bill would provide the insurance department with vital information on the reasons for long term care policy cancellations by the insurer and allow for needed adjustments of its applicable regulations to remedy any potential abuses that might be found being committed by the insurer.
Prior legislative history
Previously Introduced; 2017/18 A.2044
Fiscal implications
Unknown.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.