Substitute for Raised S.B. No. 199 Session Year 2014
AN ACT CONCERNING LONG-TERM CARE INSURANCE PREMIUM RATE INCREASES.
To require insurers that file a rate increase of twenty per cent or more for an individual or a group long-term care insurance policy to spread such increase over not less than three years and to make available to policyholders and certificate holders the additional option to reduce policy benefits to reduce the premium rate.