| 1 | 1 | | |
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| 2 | 2 | | |
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| 3 | 3 | | LCO No. 1812 1 of 2 |
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| 4 | 4 | | |
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| 5 | 5 | | General Assembly Proposed Bill No. 5328 |
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| 6 | 6 | | January Session, 2025 |
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| 7 | 7 | | LCO No. 1812 |
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| 8 | 8 | | |
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| 9 | 9 | | |
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| 10 | 10 | | Referred to Committee on INSURANCE AND REAL ESTATE |
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| 11 | 11 | | |
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| 12 | 12 | | |
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| 13 | 13 | | Introduced by: |
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| 14 | 14 | | REP. BLUMENTHAL, 147th Dist. |
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| 15 | 15 | | |
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| 16 | 16 | | |
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| 17 | 17 | | |
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| 18 | 18 | | AN ACT CONCERNING LONG -TERM CARE INSURANCE. |
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| 19 | 19 | | Be it enacted by the Senate and House of Representatives in General |
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| 20 | 20 | | Assembly convened: |
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| 21 | 21 | | |
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| 22 | 22 | | That title 38a of the general statutes be amended to: (1) Prohibit any 1 |
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| 23 | 23 | | long-term care insurer from requesting a premium rate increase that 2 |
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| 24 | 24 | | exceeds the most recent calendar year average in the consumer price 3 |
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| 25 | 25 | | index for urban consumers, as published by the United States 4 |
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| 26 | 26 | | Department of Labor, Bureau of Labor Statistics, which shall apply to 5 |
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| 27 | 27 | | renewed long-term care policies that were initially purchased by 6 |
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| 28 | 28 | | policyholders not less than fifteen years ago; (2) prohibit any long-term 7 |
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| 29 | 29 | | care insurer from requesting a premium rate increase of five per cent or 8 |
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| 30 | 30 | | more; and (3) require any long-term care insurer that files premium rate 9 |
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| 31 | 31 | | increase requests of twenty per cent or more for long-term care 10 |
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| 32 | 32 | | insurance policies to spread such increases over not less than five years. 11 |
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| 33 | 33 | | Statement of Purpose: |
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| 34 | 34 | | To: (1) Prohibit any long-term care insurer from requesting a premium |
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| 35 | 35 | | rate increase that exceeds the most recent calendar year average in the |
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| 36 | 36 | | consumer price index for urban consumers, as published by the United |
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| 37 | 37 | | States Department of Labor, Bureau of Labor Statistics, which shall Proposed Bill No. 5328 |
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| 38 | 38 | | |
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| 39 | 39 | | |
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| 40 | 40 | | LCO No. 1812 2 of 2 |
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| 41 | 41 | | |
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| 42 | 42 | | apply to renewed long-term care policies that were initially purchased |
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| 43 | 43 | | by policyholders not less than fifteen years ago; (2) prohibit any long- |
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| 44 | 44 | | term care insurer from requesting a premium rate increase of five per |
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| 45 | 45 | | cent or more; and (3) require any long-term care insurer that files |
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| 46 | 46 | | premium rate increase requests of twenty per cent or more for long-term |
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| 47 | 47 | | care insurance policies to spread such increases over not less than five |
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| 48 | 48 | | years. |
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