AB 2107, Scott. Elder abuse.
(1) Existing law imposes on all insurers, brokers, advisers, and others engaged in the business of Medicare supplemental insurance and long-term care insurance with a policyholder, a duty of honesty, good faith, and fair dealing. This bill would impose the duty of honesty, good faith, and fair dealing on insurers, brokers, advisers, and others engaged in the business of Medicare supplemental insurance and long-term care insurance with respect to prospective policyholders.
The bill would only permit life advisers, on or after July 1, 2001, to sell or offer for sale to an elder or his or her agent any financial product on the basis of the product's treatment under Medi-Cal after providing the elder or his or her agent with a specified disclosure, in writing, explaining the resource and income requirements of the Medi-Cal program, including, but not limited to, certain exempt resources, certain protections against spousal impoverishment, and certain circumstances under which an interest in a home may be transferred without affecting Medi-Cal eligibility.
The bill would exclude from the application of these disclosure provisions credit life insurance, as defined.
(2) Existing law prohibits conflicts of interest between an attorney and client.
This bill would require the State Bar to make a report, by December 31 of each year, to theLegislature on the provision of financial services by lawyers to elders, as specified. The report would include the number of complaints filed and investigations initiated, the type of charges made, and the number and nature of disciplinary actions taken by the State Bar.
(3) Existing law defines financial abuse for the purpose of reporting and investigating elder and dependent adult abuse. This bill would revise that definition.
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