HB 46 Haley, Willard
HB 46 -- LONG-TERM CARE INSURANCE
SPONSOR: Haley
Currently, no long-term care insurance policy can increase premium rates, measured annually, in excess of the amount that is actuarially justified based on credible experience, calculated in a way that results in no cross-state subsidization.
This bill specifies that the amount of the increase also cannot exceed the lesser of the percentage change in the Consumer Price Index for All Urban Consumers, or 5%.
This bill is similar to SB 912 (2022) and SB 288 (2021).