State insurance legislators have approved a proposal that could help clients take time off to care for new children or for sick or disabled relatives.
Members of the National Council of Insurance Legislators (NCOIL) adopted the proposal, the Paid Family Leave Insurance Model Act, Saturday, at a meeting in New Orleans.
States and insurers could use the model to create a new type of commercial insurance coverage that would pay benefits when an insured worker needed time to care for loved ones.
What It Means
Clients who buy family leave insurance may face less budget uncertainty related to family caregiving responsibilities.
NCOIL is a Belmar, New Jersey-based association for state-level legislators who have an interest in insurance.
An NCOIL model has no direct effect on state laws and regulations, but Democrats and Republicans worked together at NCOIL to draft the paid family leave insurance model, and state lawmakers can use the model when drafting their bills.