AN ACT CONCERNING LONG-TERM CARE INSURANCE.
Sponsored By: Matt Blumenthal (Democratic)
Failed
Summary
To: (1) Prohibit any long-term care insurer from requesting a premium rate increase that exceeds the most recent calendar year average in the consumer price index for urban consumers, as published by the United States Department of Labor, Bureau of Labor Statistics, which shall apply to renewed long-term care policies that were initially purchased by policyholders not less than fifteen years ago; (2) prohibit any long-term care insurer from requesting a premium rate increase of five per cent or more; and (3) require any long-term care insurer that files premium rate increase requests of twenty per cent or more for long-term care insurance policies to spread such increases over not less than five years.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Matt Blumenthal
Democratic • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Referred to Joint Committee on Insurance and Real Estate
1/16/2025legislature
Bill Text
Proposed Bill
1/16/2025
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