Bill > A06280

This bill extends the free look period for senior citizens (aged 65 and older) purchasing individual health insurance policies or contracts. Specifically, it requires insurers to provide a 90-day free look period for these senior policyholders, during which they can cancel their policy and receive a full premium refund, provided no claims have been incurred. This is an extension from the standard 10-20 day free look period required for other individual health insurance policies. The bill also maintains the 30-day free look period for policies covering individuals under age 65. The changes introduced by this bill will apply to all insured individuals whose coverage effective date is on or after the bill's effective date.