VirginiaHB9972026 Regular SessionHouse

Long-term care insurance; premium rate increases, regulations.

Sponsored By: Holly M. Seibold (Democratic)

In Committee

Summary

Long-term care insurance; premium rate increases; regulations. Requires regulations promulgated by the State Corporation Commission for long-term care insurance rates to (i) provide a cap on premium rate schedule increases; (ii) require any capped premium rate schedule increase to be spread by the insurer over a period of not less than five years, during which time no further rate schedule increases may be requested; and (iii) prohibit additional premium rate schedule increases after prior cumulative rate schedule increases amount to 250 percent of the original premium. Under the bill, no additional rate increases shall be approved for a long-term care insurance policy that has already reached or surpassed the limit of 250 percent of its original premium. The bill directs the Commission to adopt regulations to implement the provisions of this act, including by establishing a regulatory cap on premium rate schedule increase for long-term care insurance policies that is no more than 30 percent of the maximum amount of premium rate schedule increase permitted under current regulations, as calculated on the request date of the premium rate increase.

Subcommittee #1

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Holly M. Seibold

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 0 • No: 0

House vote 2/12/2026

Continued to 2027 in Labor and Commerce (Voice Vote)

Yes: 0 • No: 0

House vote 2/10/2026

Subcommittee recommends continuing to 2027 (Voice Vote)

Yes: 0 • No: 0

Actions Timeline

  1. Continued to 2027 in Labor and Commerce (Voice Vote)

    2/12/2026House
  2. Subcommittee recommends continuing to 2027 (Voice Vote)

    2/10/2026House
  3. Assigned HCL sub: Subcommittee #1

    1/22/2026House
  4. Referred to Committee on Labor and Commerce

    1/14/2026House
  5. Prefiled and ordered printed; Offered 01-14-2026 26100506D

    1/14/2026House

Bill Text

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