NU Online News Service, April 19, 7:04 p.m. – Kentucky Gov. Paul Patton, a Democrat has signed S.B. 41, a bill that defines "short-term nursing home insurance" and gives the state insurance commissioner the authority to regulate short-term nursing home policies.
The bill defines short-term nursing home policies as "any insurance policy or rider advertised, marketed, offered, or designed to provide coverage for less than 12 consecutive months" for nursing home care, home health care, adult day care, time spent in an assisted living facility or similar types of care.
The bill distinguishes between short-term nursing home insurance and short-term nursing benefits included with major medical policies.
At least one other state, Utah, also has an official definition of "short-term care insurance," according to a version of the Utah code published by Matthew Bender & Company Inc., Albany, N.Y.
Other sections of S.B. 41 give the Kentucky insurance commissioner authority to enact long-term care insurance rate increase regulations; regulate the "incidental long-term care benefits" included with life insurance policies, disability insurance policies, and annuities; and review applications written in languages other than English.
