NY A10711

Department of Financial Services must examine, evaluate, and make recommendations on long-term care insurance coverage in New York State

Study must include input from policyholders, insurance carriers, and caregivers regarding the long-term care insurance market and demographic trends

Department must analyze premium rate increases, actuarial assumptions, policy claim and lapse rates, and impact on Medicaid and public benefits

Department must review activities of the National Association of Insurance Commissioners and studies by the American Academy of Actuaries and Society of Actuaries

Superintendent of Financial Services must submit findings, conclusions, and recommendations to the Governor, Senate President, and Assembly Speaker within twelve months of the act's effective date