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FL H0221

Bill

Official Source

Status

Introduced

1/8/2015

Primary Sponsor

Brad Drake

Click for details

Origin

House of Representatives

2015 Regular Session

AI Summary

  • Amends Florida Statutes section 627.94072 to modify requirements for nonforfeiture protection provisions in long-term care insurance policies, certificates, and riders
  • Adds return of premium upon the death of the insured or complete surrender or cancellation of the policy as an additional form of nonforfeiture protection that insurers must offer
  • Requires nonforfeiture benefits and associated premiums to be computed using methodology that has been filed with and approved by the office, maintaining actuarial soundness
  • Takes effect July 1, 2015

Legislative Description

Long-Term Care Insurance

Last Action

Laid on Table, companion bill(s) passed, see SB 520 (Ch. 2015-21)

4/23/2015

Committee Referrals

Regulatory Affairs3/4/2015
Health Innovation Subcommittee2/6/2015
Insurance And Banking Subcommittee1/22/2015

Full Bill Text

No bill text available