SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2000 SESSION
HB 1511 Long-term care insurance.
Introduced by: Harvey B. Morgan | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Long-term care insurance. Establishes limits on periods for contestability of long-term care insurance policies. Each long-term care policy is required to include an incontestability provision providing that a policy may be rescinded or a claim denied: (i) during the six months following issuance, upon a showing of misrepresentation that is material to the acceptance of coverage; (ii) between six months and two years following issuance, upon a showing of misrepresentation that is both material to the acceptance of coverage and that pertains to the condition for which benefits are sought; and (iii) after two years, only upon a showing that the insured knowingly and intentionally misrepresented relevant facts relating to the insured's health. The bill also (i) requires that policyholders be offered the option of purchasing a policy containing a nonforfeiture benefit; (ii) authorizes the State Corporation Commission to issue regulations regarding long-term care insurance policies and certificates; (iii) prohibits the marketing of a long-term care insurance policy or certificate as a qualified long-term care insurance policy or federally tax-qualified long-term care insurance contract unless the policy or contract contains a statement prominently disclosing that such policy or certificate is a qualified long-term care insurance policy or federally tax-qualified long-term care insurance contract; (iv) prohibits the field issuance of such policies by an agent or third-party administrator; and (v) prohibits such policies from providing that an insurer who has paid benefits may recover the benefit payments in the event that the policy is rescinded. The Joint Commission on Health Care and Bureau of Insurance are required to conduct a study of the NAIC's efforts in the area of reporting requirements and comparative disclosure for long-term care insurance policies in other states. The provision regarding nonforfeiture benefits will take effect on January 1, 2001, or 60 days following the adoption of regulations by the SCC, whichever first occurs.
FULL TEXT
- 01/25/00 House: Presented & ordered printed 003347856 pdf
- 02/08/00 House: Committee substitute printed 003375856-H1 pdf
- 03/14/00 House: Bill text as passed House and Senate (HB1511ER) pdf
- 04/19/00 Governor: Acts of Assembly Chapter text (CHAP0559) pdf
HISTORY
- 01/25/00 House: Consent to introduce
- 01/25/00 House: Presented & ordered printed 003347856
- 01/25/00 House: Referred to Committee on Corporations, Insurance and Banking
- 02/08/00 House: Committee substitute printed 003375856-H1
- 02/08/00 House: Reported from C. I. B. w/sub (25-Y 0-N)
- 02/09/00 House: Read first time
- 02/10/00 House: Read second time
- 02/10/00 House: Committee substitute agreed to 003375856-H1
- 02/10/00 House: Engrossed by House - com. sub. 003375856-H1
- 02/11/00 House: Read third time and passed House (Block Vote) (99-Y 0-N)
- 02/11/00 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/11/00 House: Communicated to Senate
- 02/14/00 Senate: Constitutional reading dispensed
- 02/14/00 Senate: Referred to Committee on Commerce and Labor
- 02/28/00 Senate: Reported from Commerce and Labor (14-Y 0-N)
- 02/29/00 Senate: Const. reading disp., passed by for the day (38-Y 0-N)
- 02/29/00 Senate: VOTE: CONST. RDG. DISPENSED R (38-Y 0-N)
- 03/01/00 Senate: Read third time
- 03/01/00 Senate: Passed Senate (40-Y 0-N)
- 03/01/00 Senate: VOTE: PASSAGE R (40-Y 0-N)
- 03/14/00 House: Bill text as passed House and Senate (HB1511ER)
- 03/16/00 House: Enrolled
- 03/16/00 House: Signed by Speaker
- 03/17/00 Senate: Signed by President
- 04/06/00 Governor: Approved by Governor-Chapter 559 (effective 7/1/00)
- 04/19/00 Governor: Acts of Assembly Chapter text (CHAP0559)