HB07226: An Act Concerning Long-term Care Insurance And Eligibility For State Contracts.
Legislative Summary
To: (1) Require a public hearing concerning long-term care premium rate increase requests in excess of ten per cent and insurers to notify policyholders of such hearing; (2) require notice to individuals of the risk of long-term care premium rate increases prior to the purchase of any long-term care policy; (3) require insurers to certify material risk of insolvency during the premium rate filing process; and (4) prohibit any insurer that violates the provisions of this act from entering into state contracts.
Demographic Impact
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