Bill > S05723

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 offered by all insurers regulated under New York insurance law, a ten-year historical record of those rates, and detailed information about the dates and specific 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 age, chronic illness, or disability. The report aims to provide transparency about how these insurance rates have changed over time, which could help consumers, policymakers, and researchers better understand trends in long-term care insurance pricing. The bill will go into effect 90 days after it becomes law.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S5723