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NY A03625

Bill

Official Source

Status

Introduced

2/3/2023

Primary Sponsor

Vivian Cook

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Amends Insurance Law Section 1117(b) to add new paragraph (5) requiring health insurance plans and contracts for long term care to be annually renewable at the insured's option
  • Permits insurers to cancel or decline renewal only if the insured fails to pay required premiums
  • Takes effect immediately upon enactment
  • Applies to all contracts or policies issued in connection with long term care insurance plans

Legislative Description

Provides that health insurance contracts and policies for long term care shall be renewable each year at the option of the insured unless there is nonpayment of premiums.

Last Action

referred to insurance

1/3/2024

Committee Referrals

Insurance2/3/2023

Full Bill Text

No bill text available