VA HB1060 | 2024 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 2 2024 - 100% progression
Action: 2024-04-02 - Governor: Acts of Assembly Chapter text (CHAP0315)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 2 2024 - 100% progression
Action: 2024-04-02 - Governor: Acts of Assembly Chapter text (CHAP0315)
Text: Latest bill text (Chaptered) [HTML]
Summary
Long-term care insurance; rate increases; notice requirements. Requires an insurer providing long-term care insurance policies to issue a written notice to each policyholder of the insurer's filing for a rate increase with the State Corporation Commission within 60 days of making such filing. Additionally, the bill requires the insurer to (i) if the Commission denies the rate increase, issue a written notice to each policyholder of the Commission's final decision to deny the rate increase within 90 days of such decision or (ii) if the Commission approves the rate increase, issue a written notice to each policyholder of the rate increase at least 90 days before its effective date that includes certain information listed in the bill. The bill requires the Commission, in reviewing requests to increase long-term care insurance rates, to consider, to the extent practicable, how the rate increase will impact policyholders. Long-term care insurance; rate increases; notice requirements. Requires an insurer providing long-term care insurance policies to issue a written notice to each policyholder of the insurer's filing for a rate increase with the State Corporation Commission within 60 days of making such filing. Additionally, the bill requires the insurer to (i) if the Commission denies the rate increase, issue a written notice to each policyholder of the Commission's final decision to deny the rate increase within 90 days of such decision or (ii) if the Commission approves the rate increase, issue a written notice to each policyholder of the rate increase at least 90 days before its effective date that includes certain information listed in the bill. The bill requires the Commission, in reviewing requests to increase long-term care insurance rates, to consider, to the extent practicable, how the rate increase will impact policyholders.
Title
Long-term care insurance; rate increases, notice requirements.
Sponsors
| Del. Kathy Tran [D] |
Roll Calls
2024-03-07 - House - House: VOTE: Adoption (56-Y 43-N) (Y: 56 N: 43 NV: 0 Abs: 1) [PASS]
2024-03-06 - Senate - Senate: Passed Senate with amendment (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2024-03-05 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2024-03-04 - Senate - Senate: Reported from Commerce and Labor with amendment (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-13 - House - House: VOTE: Passage (59-Y 39-N) (Y: 59 N: 39 NV: 0 Abs: 2) [PASS]
2024-02-08 - House - House: Reported from Labor and Commerce with amendment(s) (13-Y 9-N) (Y: 13 N: 9 NV: 0 Abs: 0) [PASS]
2024-02-06 - House - House: Subcommittee recommends reporting with amendments (5-Y 2-N) (Y: 5 N: 2 NV: 0 Abs: 0) [PASS]
2024-03-06 - Senate - Senate: Passed Senate with amendment (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2024-03-05 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2024-03-04 - Senate - Senate: Reported from Commerce and Labor with amendment (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-13 - House - House: VOTE: Passage (59-Y 39-N) (Y: 59 N: 39 NV: 0 Abs: 2) [PASS]
2024-02-08 - House - House: Reported from Labor and Commerce with amendment(s) (13-Y 9-N) (Y: 13 N: 9 NV: 0 Abs: 0) [PASS]
2024-02-06 - House - House: Subcommittee recommends reporting with amendments (5-Y 2-N) (Y: 5 N: 2 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-04-02 | Governor: Acts of Assembly Chapter text (CHAP0315) | |
| 2024-04-02 | Governor: Approved by Governor-Chapter 315 (effective 7/1/24) | |
| 2024-03-27 | Governor: Governor's Action Deadline 11:59 p.m., April 8, 2024 | |
| 2024-03-27 | House | Enrolled Bill communicated to Governor on March 27, 2024 |
| 2024-03-26 | House | Signed by Speaker |
| 2024-03-25 | Senate | Signed by President |
| 2024-03-25 | House | Bill text as passed House and Senate (HB1060ER) |
| 2024-03-25 | House | Enrolled |
| 2024-03-07 | House | VOTE: Adoption (56-Y 43-N) |
| 2024-03-07 | House | Senate amendment agreed to by House (56-Y 43-N) |
| 2024-03-06 | Senate | Passed Senate with amendment |
| 2024-03-06 | Senate | Engrossed by Senate as amended |
| 2024-03-06 | Senate | Committee amendment agreed to |
| 2024-03-06 | Senate | Reading of amendment waived |
| 2024-03-06 | Senate | Read third time |
| 2024-03-05 | Senate | Constitutional reading dispensed (40-Y 0-N) |
| 2024-03-04 | Senate | Reported from Commerce and Labor with amendment (14-Y 0-N) |
| 2024-02-14 | Senate | Referred to Committee on Commerce and Labor |
| 2024-02-14 | Senate | Constitutional reading dispensed |
| 2024-02-13 | House | VOTE: Passage (59-Y 39-N) |
| 2024-02-13 | House | Read third time and passed House (59-Y 39-N) |
| 2024-02-12 | House | Printed as engrossed 24100708D-E |
| 2024-02-12 | House | Engrossed by House as amended HB1060E |
| 2024-02-12 | House | Committee amendment agreed to |
| 2024-02-12 | House | Read second time |
| 2024-02-11 | House | Read first time |
| 2024-02-08 | House | Reported from Labor and Commerce with amendment(s) (13-Y 9-N) |
| 2024-02-06 | House | Subcommittee recommends reporting with amendments (5-Y 2-N) |
| 2024-01-23 | House | Assigned L & C sub: Subcommittee #1 |
| 2024-01-10 | House | Referred to Committee on Labor and Commerce |
| 2024-01-10 | House | Prefiled and ordered printed; offered 01/10/24 24100708D |
