Loading chat...
NY A08957
Bill
Status
3/4/2014
Primary Sponsor
Mark Gjonaj
Click for details
AI Summary
-
Establishes a joint public awareness program by the Department of Financial Services, Department of Health, Office for the Aging, and Department of Taxation and Finance to inform the public about long-term care insurance coverage options and available tax credits.
-
Expands the definition of "life insurance" to include accelerated death benefit payments or special surrender values when an insured receives end-of-life or palliative care for three or more months at a residential health care facility, home care service, or hospice.
-
Requires that life insurance policies providing accelerated payments for end-of-life or palliative care must also provide accelerated payments for terminal illness diagnoses.
-
Applies to life insurance policies issued, renewed, modified, altered, or amended on or after January 1 of the year following the bill's enactment.
Legislative Description
Directs the department of financial assistance to establish a public awareness program on the availability of long term health care insurance, the financing thereof and the provision of tax credits for premiums paid therefor; accelerates payment of death benefits and special surrender values upon receipt of the insured of end of life or palliative care.
Last Action
substituted by s6672a
6/17/2014