Action Alert S 2359
AN ACT TO ESTABLISH STANDARDS FOR LONG TERM CARE INSURANCE
NAIFA Mass Members Contact
GOVERNOR PATRICK NOW
I would like to thank all of our members for responding so quickly to our last call to action. Now the LTC Standards bill is even closer to being passed! Both the Senate and House have passed this bill and now Governor Patrick has 10 days to sign S2359 into law. I encourage you and your clients to call Governor Patrick's office at (617)725-4005 and ask him to sign this bill into law today! This phone call is very important - this could bring an important change to the Long Term Care rules that affect our clients!
We have worked hard to get to this point, providing council to the sponsor of the bill, Senator Chandler, conducting Days on the Hill, attending meetings and making calls to our legislators and presenting an educational workshop for legislators at the statehouse to name a few. We are now at the final step for this bill! Here is a reminder of what S2359 accomplishes:
- Establishes guidelines for long term care insurance consistent with those set forth in the National Association of Insurance Commissioners (NAIC) Long Term Care Insurance Model Act.
- Allows Massachusetts to join 46 other states who have already adopted the NAIC LTCi Model Act. In addition, rate stabilization language would provide expanded consumer protection.
- Amends the amount of coverage required in the Mass Health/Medicaid Lien Exemption. This would change the amount of coverage necessary to provide lien protection from "upon entry to a nursing home" to "when the policy was purchased". The real benefit of the bill is that families can keep their loved ones at home longer, reduces dependency on Medicaid and provides better options for advisors recommending long-term care insurance.
Please take a moment to make a call to the Governor's office, asking him to please pass S 2359. His office can be reached at (617)725-4005. A telephone call and a letter from each of our members will have an impact on the Governor's decision to sign this bill into law!
Click HERE - For more information for a letter to Governor Patrick.
If any questions arise that you need assistance with, please reach out to our long-term care insurance Chair, Susie Caspar at 508-785-3559 or me for support.
Adam M. Sachs, CFP®, CLU®, ChFC®, CLTC
NAIFA Mass Government Relations Chair, 781.446.5006