|SAME AS||No Same As|
|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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NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A6470 SPONSOR: Englebright
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.