Bill Text: NY A03123 | 2021-2022 | General Assembly | Introduced

Bill Title: 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.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Introduced) 2021-01-22 - referred to insurance [A03123 Detail]

Download: New_York-2021-A03123-Introduced.html

                STATE OF NEW YORK


                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    January 22, 2021

        Introduced  by  M.  of A. COOK -- Multi-Sponsored by -- M. of A. COLTON,
          GALEF, GOTTFRIED, GUNTHER -- read once and referred to  the  Committee
          on Insurance

        AN  ACT to amend the insurance law, in relation to the renewal of health
          insurance policies for long term care

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section 1. Paragraphs 5 and 6 of subsection (b) of section 1117 of the
     2  insurance law are renumbered paragraphs 6 and 7 and a new paragraph 5 is
     3  added to read as follows:
     4    (5)  the  plan's  provisions,  and any contracts or policies issued in
     5  connection with a plan, provide  that  any  contract  or  policy  issued
     6  shall,  at  the option of the insured, be renewable each year unless the
     7  insured fails to pay the premiums due for such renewal, in  which  event
     8  the insurer may cancel such contract or policy;
     9    § 2. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.