A06470 Summary:

BILL NO    A06470 

SAME AS    No same as 

SPONSOR    Englebright

COSPNSR    

MLTSPNSR   



Directs the department of financial services to study and make recommendations
on the provision of long term health care insurance coverage and the settlement
of claims under such insurance; requires the submission of a report to the
superintendent of financial services, the governor and the legislature.
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A06470 Actions:

BILL NO    A06470 

03/25/2015 referred to insurance
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A06470 Memo:

BILL NUMBER:A6470

TITLE OF BILL:  An act to direct the department of financial services
to study, evaluate and make recommendations concerning the provision
of long term health care insurance coverage and claims settlement in
the state

PURPOSE OR GENERAL IDEA OF BILL:

The Insurance Department will examine, evaluate and make
recommendations with respect to the provisions, coverage and claims
paid by insurance companies authorized to issue long term health care
insurance coverage in New York State.

SUMMARY OF SPECIFIC PROVISIONS:

The department of insurance will submit a report to the superintendent
of insurance, governor and legislature. The report will detail their
findings, conclusions and suggested implementations.

JUSTIFICATION:

Today the Federal and State governments are pushing older people to
purchase long-term-care plans to help contain Medicaid and Medicare
costs and to keep individuals in their homes for as long as possible.
Recent reports (The New York Times and Business Weekly) indicate that
legitimate claims may not be being covered by insurance companies.
This bill will require that the department of insurance to examine how
these policies are being implemented here in New York State.

PRIOR LEGISLATIVE HISTORY:

2013-14 A5814 referred to insurance
2009-10 A5380 referred to insurance
2007-08 A7515 referred to insurance

FISCAL IMPLICATIONS:

None.

EFFECTIVE DATE:

This act shall take effect immediately.
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