SB01269: An Act Concerning Long-term Care Insurance.
Legislative Summary
To: (1) Require the Insurance Department to conduct a study concerning an alternative pool for long-term care policyholders; (2) require a public hearing concerning long-term care premium rate increase requests in excess of ten per cent; (3) require notice to individuals of the risk of long-term care premium rate increases prior to the purchase of any long-term care policy; (4) limit premium rate increases for certain long-term care policies renewed in this state; (5) allow life insurance companies to issue annuity contracts with long-term care riders; (6) implement a tax credit for individuals who purchase long-term care policies; and (7) require the Insurance Department to conduct a study of the long-term care premium rate filing process.
Demographic Impact
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