New York Assembly Bill A07685 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 7685 2025-2026 Regular Sessions  IN ASSEMBLY April 4, 2025 ___________ Introduced by M. of A. COOK, LEVENBERG -- Multi-Sponsored by -- M. of A. COLTON -- read once and referred to the Committee on Insurance AN ACT to amend the insurance law, in relation to the renewal of health insurance policies for long term care The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraphs 5 and 6 of subsection (b) of section 1117 of the 2 insurance law are renumbered paragraphs 6 and 7 and a new paragraph 5 is 3 added to read as follows: 4 (5) the plan's provisions, and any contracts or policies issued in 5 connection with a plan, provide that any contract or policy issued 6 shall, at the option of the insured, be renewable each year unless the 7 insured fails to pay the premiums due for such renewal, in which event 8 the insurer may cancel such contract or policy; 9 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08959-01-5