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NY S06802

Bill

Official Source

Status

Vetoed

11/28/2016

Primary Sponsor

James Seward

Click for details

Origin

Senate

2015-2016 General Assembly

AI Summary

  • Department of Financial Services must examine, evaluate, and make recommendations concerning long-term care insurance coverage in New York State
  • Study must solicit input from policyholders, insurance carriers, and caregivers
  • Department shall analyze the current long-term care insurance market, demographic trends, and insurance carrier participation
  • Study must review the impact of long-term care coverage on Medicaid and other public benefits, as well as effects on care recipients and caregivers
  • Department must examine actuarial assumptions, premium rate methodologies, policy claim and lapse rates, and industry reports from the National Association of Insurance Commissioners and actuarial societies

Legislative Description

Directs the department of financial services to study and report upon the provision of long term care insurance coverage in this state.

Last Action

VETOED MEMO.281

11/28/2016

Committee Referrals

Insurance6/7/2016
Insurance2/24/2016

Full Bill Text

No bill text available