Relates to notifying an insured of a rate filing increase or decrease for long term care; provides such notification shall include instructions on how to submit comments on such rate filing.
Summary
This bill amends New York Insurance Law section 1117, which governs notice and public comment procedures for long-term care insurance rate filings. The measure expands existing notice requirements so that when an authorized insurer, health maintenance organization, corporation, or fraternal benefit society seeks either a premium rate increase or a premium rate decrease, it must notify affected policyholders or certificate holders at the time the filing is submitted to the Department of Financial Services. The notice must include clear instructions on how to submit comments on the filing, including through the department’s website, by mail, or by other means.
The bill also updates related provisions to ensure that the superintendent’s public notice and the policyholder notification requirements apply to both increases and decreases in premium rates, and that policyholders are informed of the department’s decision no later than 90 days before the effective date of the change. It further clarifies that the existing notice provisions do not apply to policies or certificates exempt from premium rate changes. The bill takes effect immediately.
Impact
The bill would amend Insurance Law section 1117 to broaden disclosure and notice obligations for long-term care insurance rate filings in New York. Insurers and similar entities would have to provide direct notice to policyholders not only for rate increases but also for rate decreases, and include instructions for submitting comments on the filing. The Department of Financial Services would continue to post filings and accept public comments, but the statute would now expressly tie those procedures to both upward and downward premium adjustments.
Sentiment
The available legislative record suggests generally favorable sentiment, as the bill was introduced, reported favorably from the Senate Insurance Committee, and advanced through the Senate process with amendment. The bill appears to be framed as a consumer-notice and transparency measure rather than a controversial substantive change to benefit levels or coverage. No committee transcript or recorded vote opposition is provided in the materials, so there is no evidence here of significant public or legislative resistance.
Contention
The main policy issue is whether insurers should be required to notify policyholders and provide comment instructions for premium rate decreases as well as increases. The bill’s supporters appear to favor broader transparency and consumer participation in rate filings, while any potential concern would likely come from insurers or regulated entities facing additional administrative notice obligations. Another technical point is the bill’s clarification that exempt policies or certificates remain outside these notice requirements.
Relates to notifying an insured of a rate filing increase or decrease for long term care; provides such notification shall include instructions on how to submit comments on such rate filing.
Insurers to submit long-term care insurance premium rate filings to the Department of Commerce and Insurance on or after August 28, 2026, and includes director of DCI's responsibility to approve or disapprove the rates
Relates to motor vehicle insurance fairness; provides that insurance rates shall not be increased based on certain factors; sets forth processes for motor vehicle insurers to have rate increases approved; allows public access in relation to any proposed insurance rate increases; allows members of the public to request permission to intervene in proceedings related to rate increases; directs rules and regulations to be established.
Relates to motor vehicle insurance fairness; provides that insurance rates shall not be increased based on certain factors; sets forth processes for motor vehicle insurers to have rate increases approved; allows public access in relation to any proposed insurance rate increases; allows members of the public to request permission to intervene in proceedings related to rate increases; directs rules and regulations to be established.
Requires rate filings for prior approval for commercial property insurance, commercial general liability insurance, and personal residential property insurance; requires insurers provide written explanations for premium increases in certain covered policies; requires certain insurers of homeowners' insurance to refile its homeowners' insurance rates and, in certain circumstances, be required to reduce rates.
Insurance; allowing rates to be excessive; requiring filings with Insurance Commissioner; allowing Commissioner to give written notices; requiring Commissioner to disapprove rates; increasing certain time frames for filings. Effective date.
Provides that admission agreements at adult homes include language providing that daily room and board rates at adult homes shall be increased when the minimum wage in New York City increases in an amount equal to the percentage of such minimum wage increase; states that such adjustment applies solely to room, board and non-medical supportive services and shall not affect Medicaid reimbursement rates.
Provides for the notification of individuals when their address confidentiality time period is expiring no later than six months prior to such expiration; provides that such notification shall include information on how to reapply.