Two Florida bills could help long-term care insurance (LTCI) policyholders who lose lawsuits or run into financial problems.
The bills would protect the LTCI policyholders by providing an exemption from “attachment, garnishment or other legal processor” for a debtor’s interest in an LTCI policy.
If implemented as written, the statute based on the bills would take effect July 1.
State Rep. Elaine Schwartz, D-Hollywood, Fla., has introduced the state House version, H.B. 1227.
State Sen. Dwight Bullard, D-Cutler Bay, Fla., has introduced the Senate version, S.B. 1714.
S.B. 1714 is under the jurisdiction of the Banking and Insurance Committee, the Judiciary Committee and the Rules Committee in the Senate.