Sarah Bascom, [email protected], 850.294.6636
Lyndsey Brzozowski, [email protected], 850.524.5006
Florida Legislature Approves Critical Senior Protection Measure
Passage of House Bill 673 Celebrated by Protect Florida Seniors Now Effort
Tallahassee, Fla. – Protect Florida Seniors Now, an education and advocacy effort led by the Florida Association of Health Plans, Inc. (FAHP), today celebrated the passage of House Bill 673, a critical senior protection measure. HB 673 was sponsored by Representative Jason Fischer (R-Jacksonville) and its companion in the Florida Senate, Senate Bill 626, was sponsored by Senator Jeff Brandes (R-St. Petersburg) and co-sponsored by Senator Doug Broxson (R-Pensacola). HB 673 will now go to Governor Ron DeSantis for consideration.
Florida is home to the highest population percentage of seniors in the nation, and HB 673 addresses instability in the long-term care insurance market by enacting necessary changes to the guaranty fund safety-net system to prevent double-digit rate increases and ensure continued access to the benefits of long-term care insurance products.
“Today, we celebrate the passage of a critical senior protection measure that addresses the instability in the long-term care insurance market, so the many seniors who call Florida home will not experience dramatic rate increases and will continue to have access to the benefits of their long-term care insurance,” said Audrey Brown, president & CEO of FAHP. “This important measure accomplishes this by equitably splitting the participation in the safety-net funding between life and health insurers; thus, increasing the ability to cover aging services in the event a long-term care insurer becomes insolvent, while also shielding the state from financial liability.”
“Today’s unanimous vote reflects Senators Brandes and Broxson, and Representative Fischer’s steadfast commitment to gaining wide support of this measure and we thank them for championing this good public policy,” said Brown. “We’re also proud to have had the opportunity to work closely with our industry partners and regulators to ensure Florida seniors are protected.”
“We are grateful that this legislation is on its way to the Governor DeSantis for his signature, and seeing this measure become law,” concluded Brown.
Protect Florida Seniors Now aims to educate Floridians on the importance of enacting long-term care legislation that is specific to Florida, but consistent with the national settlement agreement and the National Association of Insurance Commissioners model act. To learn more, visit ProtectFloridaSeniorsNow.com.
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