AN ACT CONCERNING THE REGULATION OF PREMIUM RATES ON LONG-TERM CARE INSURANCE POLICIES.
To: (1) Evaluate an alternative pool for long-term care policy holders in excess of twenty years; (2) require that the Insurance Department hold a public hearing for long-term care premium rate increase requests that exceed ten per cent; and (3) require that long-term care insurers provide potential policyholders with explicit notice, prior to the purchase of long-term care insurance policies, of the high risk of future premium rate increases.
Introduced by:
Sen. Tony Hwang, 28th Dist.
