S05723 Summary:
| BILL NO | S05723 |
| SAME AS | SAME AS A03801 |
| SPONSOR | SKOUFIS |
| COSPNSR | |
| MLTSPNSR | |
| Add §204, Ins L | |
| Requires the department of financial services publish a report on long-term care insurance rates including historical rates and the dates and amounts of any rate changes. | |
S05723 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 5723 2025-2026 Regular Sessions IN SENATE February 28, 2025 ___________ Introduced by Sen. SKOUFIS -- read twice and ordered printed, and when printed to be committed to the Committee on Insurance AN ACT to amend the insurance law, in relation to requiring the depart- ment of financial services publish a report on long-term care insur- ance rates The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The insurance law is amended by adding a new section 204 to 2 read as follows: 3 § 204. Report on long-term care insurance plan or policy rates. The 4 superintendent shall publish a report on the department's website which 5 shall include, but not be limited to: 6 1. the long-term care insurance plan or policy rates by all insurers 7 subject to the provisions of this chapter; 8 2. the historical long-term care insurance plan or policy rates by all 9 insurers subject to the provisions of this chapter for the prior ten 10 years; and 11 3. the dates and amounts of any changes to such rates. 12 § 2. This act shall take effect on the ninetieth day after it shall 13 have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07815-01-5