Bill > A03801

This bill requires the New York State Department of Financial Services to publish a comprehensive online report about long-term care insurance rates. Specifically, the report must include current rates for long-term care insurance plans from all insurers operating under the state's insurance regulations, historical rates for these plans going back ten years, and a detailed timeline showing the dates and amounts of any rate changes during that period. Long-term care insurance is a type of insurance that helps cover the costs of services like nursing home care, assisted living, or in-home care for individuals who need assistance with daily activities due to aging, illness, or disability. The bill aims to increase transparency in the insurance market by making this rate information publicly accessible on the department's website. The new requirement will take effect 90 days after the bill becomes law, giving insurers and the department time to prepare and compile the necessary information.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A3801