AN ACT CONCERNING CONSUMER PROTECTIONS FOR LONG-TERM CARE INSURANCE POLICYHOLDERS.
Sponsored By: Saud Anwar (Democratic)
Failed
Summary
To: (1) Establish a four-year moratorium on long-term care insurance premium rate increases; (2) require that the Insurance Department hold a public hearing for long-term care premium rate increase requests that exceed five per cent; (3) establish a personal income tax deduction for individual long-term care insurance policyholders for whom the premium rate for such policy increased by more than five per cent in a taxable year; and (4) establish a task force to (A) study the long-term care insurance industry, including, but not limited to, premium costs and alternative policy structures, including state-funded insurance pools for long-term care policyholders, and (B) provide recommendations to improve long-term care insurance affordability and coverage.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Saud Anwar
Democratic • Senate
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
1/10/2025legislature
Bill Text
Proposed Bill
1/10/2025
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