Bill > A00345

This bill amends the New York Insurance Law to require the Superintendent of Financial Services to make public any rate filing or application submitted by long-term care insurance carriers. It also requires certain notices to be provided to policyholders and certificate holders regarding premium rate increases. The bill mandates the Superintendent to post information about the rate review process, publicly notice any rate filing or application, and provide a process for public comments. It also requires insurers to notify policyholders of any approved or modified rate changes at least 90 days prior to the effective date. These provisions aim to increase transparency and policyholder protections around long-term care insurance premium rate changes.