FL H1055 | 2012 | Regular Session

Status

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on March 9 2012 - 100% progression
Action: 2012-03-09 - Died in Health and Human Services Quality Subcommittee
Text: Latest bill text (Introduced) [PDF]

Summary

Requires life insurance policies or riders to provide for accelerated payment of death benefits to insureds who have been residents of nursing home for specified amount of time & who are expected to remain residents of nursing home until their death; requires insurers to offer applicants for life insurance policies or riders providing accelerated death benefit payments; requires insurers to offer by specified date riders providing accelerated death benefit payments to insureds holding policies in effect before act's effective date; requires insured who applies for Medicaid benefits in order to pay for long-term care determine fair market value of life insurance policy & spend down all proceeds from converting policy to pay for long-term care in specified manner; requires long-term care benefit plan to ensure payments are made to insured's estate & guarantee payment of funeral expense benefit to insured's estate; provides exception; authorizes OIR, in consultation with AHCA & DCFS to adopt rules; requires insurers to provide written notifications containing specified information & statements to life insurance policy owners who are of certain age or terminally or chronically ill; provides penalties & remedies under chapter 501, F.S., relating to deceptive & unfair trade practices.

Tracking Information

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Title

Life Insurance

Sponsors


History

DateChamberAction
2012-03-09 Died in Health and Human Services Quality Subcommittee
2012-01-10 Introduced -HJ 103
2011-12-28 Referred to Health and Human Services Quality Subcommittee; Rulemaking and Regulation Subcommittee; Insurance and Banking Subcommittee; Health and Human Services Committee -HJ 103
2011-12-16 Filed

Florida State Sources


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