Download 2008 Kentucky General Assembly Priority Legislation

Survey
yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Document related concepts

Universal life insurance wikipedia, lookup

Mutual Life Insurance Co. of New York v. Hillmon wikipedia, lookup

Life insurance wikipedia, lookup

Transcript
2008 Kentucky General Assembly • Priority Legislation
Increasing Senior Services Funding
We Support:
Increasing funding to help older persons and those with disabilities remain in their homes.
Increasing funding for senior services provided by Area Agencies on Aging in the 2008
General Assembly (2008-2010 budget years).
Increasing capacity of provider organizations to expand support services like transportation,
respite care, home delivered meals.
Reducing the long waiting lists for home care, adult day care and personal care attendant
programs.
ID Theft
We Support:
Passage of new sections of Kentucky Revised Statutes Chapter 367 (Consumer Protection).
Kentuckians need help with additional protections against ID theft and tools to remedy the
effects of ID Theft.
Protect consumers’ social security numbers
Require expeditious notice by businesses and agencies when security has been breeched
Require reasonable steps to safeguard against security breeches.
Allow the Attorney General to promulgate regulations.
LTC Insurance
We support:
The Attorney General reviewing all proposed rate increases
The Department of Insurance holding hearings on rate filings upon the request of the
Attorney General
Annuity Legislation
Consumer Concerns:
When consumers are confronted with conserving and investing retirement resources:
1. How shall they know what products and services are suitable?
2. How shall they understand fees, taxes and charges?
3. How may they determine the net proceeds after fees, taxes and charges?
What consumer’s need: Include toll-free number for the Office of Insurance to publications
provided to new consumers.
Natural Gas Increase (a.k.a, Natural Gas Stabilization Bill)
Consumer concerns:
Incrementally-adjusted rates will result in higher utility costs
Requires rate cases every five years
Review process is truncated to essentially 30 days rather 10 months which will hinder the
KYPSC and the Attorney General auditing process.
Predatory Lending
Consumer concerns:
Mortgage lending becomes predatory when vulnerable consumers are subjected to practices such
as:
Extending loans with terms that borrowers clearly lack the ability to repay;
“Flipping” the loans by encouraging borrowers to pay off existing loans by taking yet another
costly loan;
Enticing borrowers to take on additional debt by using fraudulent or misleading sales tactics;
Charging unnecessarily high interest rates or fees.
Call your legislators toll-free on the Legislative Message Line:
1-800-372-7181 • TTY Messages 1-800-896-0305 • En Español 1-866-840-6574
Visit the Kentucky General Assembly online at: www.lrc.ky.gov
Senior Services Funding – Home and Community Based Services
Kentucky Association for Gerontology, K4A, and AARP Kentucky welcome
volunteers and citizen advocates to the 2008 Kentucky General Assembly.
In 2006, Kentucky’s General Assembly and the Governor passed a state budget
which included increased funding for senior services in the amount of $7.5 million.
The General Assembly will pass a state budget in the 2008 Session and
increasing senior services funding is a needed priority.
“I want to live in my own home” is the phrase most used by older Kentuckians
and those with disabilities who live in fear of losing their independence and being
left with one option: institutionalization. A recent study conducted shows nearly
four thousand older Kentuckians and those with disabilities are on waiting lists for
services need to give them a quality of life at home.
We Support:
Increasing funding that helps older persons and those with disabilities to
remain in their homes.
Increasing the funding of senior services provided by Area Agencies on Aging
in the 2008 General Assembly (2008-2010 budget years).
Increasing capacity of provider organizations to expand support services like
transportation, respite care, home delivered meals.
Reducing the long waiting lists for home care, adult day care and personal
care attendant programs.
More work still needs to be done. Let your representatives know that increased
funding for senior services must continue to meet the growing needs of aging
Kentuckians. Ask your Representative and Senator to make it a budget priority in
the 2008 General Assembly.
Call your Senator and Representative toll-free at: 1-800-372-7181
TTY 1-800-896-0305; En Español 1-866-840-6574
Visit the Kentucky General Assembly online at www.lrc.ky.gov
The Issue: Keeping Long-term Care
Insurance Affordable in Kentucky
Kentuckians are increasingly concerned about
their long-term financial security and quality of life, especially as they age. Long-term financial
security is a cornerstone of the American dream: if you work hard and follow the rules, you will
be able to retire without financial worries. Yet this dream is being threatened.
Facts:
Long-term care insurance makes sense for consumers and taxpayers.
In Kentucky, the cost of a nursing home today is about $55, 480 annually, or about $152
a day.
In 2006, KY spent 71% ($862.8 million) of its total long-term care on institutional
expenditures and 29% ($356.6 million) on community expenditures.
The cost of long-term care insurance is on the rise. Most consumers understand the importance
of maintaining appropriate insurance coverage – especially for their own financial security.
Long-term care insurance is one way individuals are protecting themselves and their families
from costly nursing home expenses.
Since the 1980’s, millions of consumers have purchased long term care insurance to protect their
family assets in case they need to pay for assisted living, home care or a nursing home stay. In
Kentucky, insurance companies’ rate increases are routinely approved by the Department of
Insurance at a significantly higher rate than neighboring states. And the premium costs only
continue to jump.
Who in state government is watching out for the consumer? Kentucky’s consumers deserve
protection from unreasonable rate increases in long-term care insurance policies, yet Kentucky’s
Attorney General has no authority to review or advocate on behalf of consumers.
Take Action:
Kentucky’s General Assembly needs to hear from consumers facing the challenges of
maintaining their long-term care insurance policies as rate increases continue to climb
unchecked.
Be a voice for change in Frankfort and take a stand against unreasonable long-term care
insurance premium increases. Ask your state lawmakers to commit in helping keep long-term
care insurance affordable in Kentucky’s 2008 General Assembly.
Tell a friend and ask them to join in spreading the word that Kentucky consumers deserve
better protection from unreasonable rate increases.
Share your story with your representatives and ask them to strengthen regulatory policies
to protect long-term care insurance consumers.
Call your legislators toll-free on the LRC Legislative Message Line:
1-800-372-7181 • TTY Messages 1-800-896-0305 • En Español 1-866-840-6574 Find your
state representatives online at the General Assembly website: www. lrc.ky.gov