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General Assembly Raised Bill No. 1278
January Session, 2025
LCO No. 4030
Referred to Committee on AGING
Introduced by:
(AGE)
AN ACT CONCERNING LONG -TERM CARE INSURANCE PREMIUM
RATES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. Subparagraph (B) of subdivision (20) of subsection (a) of 1
section 12-701 of the general statutes is repealed and the following is 2
substituted in lieu thereof (Effective from passage and applicable to taxable 3
years commencing on or after January 1, 2025): 4
(B) There shall be subtracted therefrom: 5
(i) To the extent properly includable in gross income for federal 6
income tax purposes, any income with respect to which taxation by any 7
state is prohibited by federal law; 8
(ii) To the extent allowable under section 12-718, exempt dividends 9
paid by a regulated investment company; 10
(iii) To the extent properly includable in gross income for federal 11
income tax purposes, the amount of any refund or credit for 12
overpayment of income taxes imposed by this state, or any other state 13 Raised Bill No. 1278
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of the United States or a political subdivision thereof, or the District of 14
Columbia; 15
(iv) To the extent properly includable in gross income for federal 16
income tax purposes and not otherwise subtracted from federal 17
adjusted gross income pursuant to clause (x) of this subparagraph in 18
computing Connecticut adjusted gross income, any tier 1 railroad 19
retirement benefits; 20
(v) To the extent any additional allowance for depreciation under 21
Section 168(k) of the Internal Revenue Code for property placed in 22
service after September 27, 2017, was added to federal adjusted gross 23
income pursuant to subparagraph (A)(ix) of this subdivision in 24
computing Connecticut adjusted gross income, twenty-five per cent of 25
such additional allowance for depreciation in each of the four 26
succeeding taxable years; 27
(vi) To the extent properly includable in gross income for federal 28
income tax purposes, any interest income from obligations issued by or 29
on behalf of the state of Connecticut, any political subdivision thereof, 30
or public instrumentality, state or local authority, district or similar 31
public entity created under the laws of the state of Connecticut; 32
(vii) To the extent properly includable in determining the net gain or 33
loss from the sale or other disposition of capital assets for federal income 34
tax purposes, any gain from the sale or exchange of obligations issued 35
by or on behalf of the state of Connecticut, any political subdivision 36
thereof, or public instrumentality, state or local authority, district or 37
similar public entity created under the laws of the state of Connecticut, 38
in the income year such gain was recognized; 39
(viii) Any interest on indebtedness incurred or continued to purchase 40
or carry obligations or securities the interest on which is subject to tax 41
under this chapter but exempt from federal income tax, to the extent that 42
such interest on indebtedness is not deductible in determining federal 43
adjusted gross income and is attributable to a trade or business carried 44
on by such individual; 45 Raised Bill No. 1278
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(ix) Ordinary and necessary expenses paid or incurred during the 46
taxable year for the production or collection of income which is subject 47
to taxation under this chapter but exempt from federal income tax, or 48
the management, conservation or maintenance of property held for the 49
production of such income, and the amortizable bond premium for the 50
taxable year on any bond the interest on which is subject to tax under 51
this chapter but exempt from federal income tax, to the extent that such 52
expenses and premiums are not deductible in determining federal 53
adjusted gross income and are attributable to a trade or business carried 54
on by such individual; 55
(x) (I) For taxable years commencing prior to January 1, 2019, for a 56
person who files a return under the federal income tax as an unmarried 57
individual whose federal adjusted gross income for such taxable year is 58
less than fifty thousand dollars, or as a married individual filing 59
separately whose federal adjusted gross income for such taxable year is 60
less than fifty thousand dollars, or for a husband and wife who file a 61
return under the federal income tax as married individuals filing jointly 62
whose federal adjusted gross income for such taxable year is less than 63
sixty thousand dollars or a person who files a return under the federal 64
income tax as a head of household whose federal adjusted gross income 65
for such taxable year is less than sixty thousand dollars, an amount 66
equal to the Social Security benefits includable for federal income tax 67
purposes; 68
(II) For taxable years commencing prior to January 1, 2019, for a 69
person who files a return under the federal income tax as an unmarried 70
individual whose federal adjusted gross income for such taxable year is 71
fifty thousand dollars or more, or as a married individual filing 72
separately whose federal adjusted gross income for such taxable year is 73
fifty thousand dollars or more, or for a husband and wife who file a 74
return under the federal income tax as married individuals filing jointly 75
whose federal adjusted gross income from such taxable year is sixty 76
thousand dollars or more or for a person who files a return under the 77
federal income tax as a head of household whose federal adjusted gross 78
income for such taxable year is sixty thousand dollars or more, an 79 Raised Bill No. 1278
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amount equal to the difference between the amount of Social Security 80
benefits includable for federal income tax purposes and the lesser of 81
twenty-five per cent of the Social Security benefits received during the 82
taxable year, or twenty-five per cent of the excess described in Section 83
86(b)(1) of the Internal Revenue Code; 84
(III) For the taxable year commencing January 1, 2019, and each 85
taxable year thereafter, for a person who files a return under the federal 86
income tax as an unmarried individual whose federal adjusted gross 87
income for such taxable year is less than seventy-five thousand dollars, 88
or as a married individual filing separately whose federal adjusted gross 89
income for such taxable year is less than seventy-five thousand dollars, 90
or for a husband and wife who file a return under the federal income tax 91
as married individuals filing jointly whose federal adjusted gross 92
income for such taxable year is less than one hundred thousand dollars 93
or a person who files a return under the federal income tax as a head of 94
household whose federal adjusted gross income for such taxable year is 95
less than one hundred thousand dollars, an amount equal to the Social 96
Security benefits includable for federal income tax purposes; and 97
(IV) For the taxable year commencing January 1, 2019, and each 98
taxable year thereafter, for a person who files a return under the federal 99
income tax as an unmarried individual whose federal adjusted gross 100
income for such taxable year is seventy-five thousand dollars or more, 101
or as a married individual filing separately whose federal adjusted gross 102
income for such taxable year is seventy-five thousand dollars or more, 103
or for a husband and wife who file a return under the federal income tax 104
as married individuals filing jointly whose federal adjusted gross 105
income from such taxable year is one hundred thousand dollars or more 106
or for a person who files a return under the federal income tax as a head 107
of household whose federal adjusted gross income for such taxable year 108
is one hundred thousand dollars or more, an amount equal to the 109
difference between the amount of Social Security benefits includable for 110
federal income tax purposes and the lesser of twenty-five per cent of the 111
Social Security benefits received during the taxable year, or twenty-five 112
per cent of the excess described in Section 86(b)(1) of the Internal 113 Raised Bill No. 1278
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Revenue Code; 114
(xi) To the extent properly includable in gross income for federal 115
income tax purposes, any amount rebated to a taxpayer pursuant to 116
section 12-746; 117
(xii) To the extent properly includable in the gross income for federal 118
income tax purposes of a designated beneficiary, any distribution to 119
such beneficiary from any qualified state tuition program, as defined in 120
Section 529(b) of the Internal Revenue Code, established and 121
maintained by this state or any official, agency or instrumentality of the 122
state; 123
(xiii) To the extent allowable under section 12-701a, contributions to 124
accounts established pursuant to any qualified state tuition program, as 125
defined in Section 529(b) of the Internal Revenue Code, established and 126
maintained by this state or any official, agency or instrumentality of the 127
state; 128
(xiv) To the extent properly includable in gross income for federal 129
income tax purposes, the amount of any Holocaust victims' settlement 130
payment received in the taxable year by a Holocaust victim; 131
(xv) To the extent properly includable in the gross income for federal 132
income tax purposes of a designated beneficiary, as defined in section 133
3-123aa, interest, dividends or capital gains earned on contributions to 134
accounts established for the designated beneficiary pursuant to the 135
Connecticut Homecare Option Program for the Elderly established by 136
sections 3-123aa to 3-123ff, inclusive; 137
(xvi) To the extent properly includable in gross income for federal 138
income tax purposes, any income received from the United States 139
government as retirement pay for a retired member of (I) the Armed 140
Forces of the United States, as defined in Section 101 of Title 10 of the 141
United States Code, or (II) the National Guard, as defined in Section 101 142
of Title 10 of the United States Code; 143 Raised Bill No. 1278
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(xvii) To the extent properly includable in gross income for federal 144
income tax purposes for the taxable year, any income from the discharge 145
of indebtedness in connection with any reacquisition, after December 146
31, 2008, and before January 1, 2011, of an applicable debt instrument or 147
instruments, as those terms are defined in Section 108 of the Internal 148
Revenue Code, as amended by Section 1231 of the American Recovery 149
and Reinvestment Act of 2009, to the extent any such income was added 150
to federal adjusted gross income pursuant to subparagraph (A)(xi) of 151
this subdivision in computing Connecticut adjusted gross income for a 152
preceding taxable year; 153
(xviii) To the extent not deductible in determining federal adjusted 154
gross income, the amount of any contribution to a manufacturing 155
reinvestment account established pursuant to section 32-9zz in the 156
taxable year that such contribution is made; 157
(xix) To the extent properly includable in gross income for federal 158
income tax purposes, (I) for the taxable year commencing January 1, 159
2015, ten per cent of the income received from the state teachers' 160
retirement system, (II) for the taxable years commencing January 1, 161
2016, to January 1, 2020, inclusive, twenty-five per cent of the income 162
received from the state teachers' retirement system, and (III) for the 163
taxable year commencing January 1, 2021, and each taxable year 164
thereafter, fifty per cent of the income received from the state teachers' 165
retirement system or, for a taxpayer whose federal adjusted gross 166
income does not exceed the applicable threshold under clause (xx) of 167
this subparagraph, the percentage pursuant to said clause of the income 168
received from the state teachers' retirement system, whichever 169
deduction is greater; 170
(xx) To the extent properly includable in gross income for federal 171
income tax purposes, except for retirement benefits under clause (iv) of 172
this subparagraph and retirement pay under clause (xvi) of this 173
subparagraph, for a person who files a return under the federal income 174
tax as an unmarried individual whose federal adjusted gross income for 175
such taxable year is less than seventy-five thousand dollars, or as a 176 Raised Bill No. 1278
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married individual filing separately whose federal adjusted gross 177
income for such taxable year is less than seventy-five thousand dollars, 178
or as a head of household whose federal adjusted gross income for such 179
taxable year is less than seventy-five thousand dollars, or for a husband 180
and wife who file a return under the federal income tax as married 181
individuals filing jointly whose federal adjusted gross income for such 182
taxable year is less than one hundred thousand dollars, (I) for the taxable 183
year commencing January 1, 2019, fourteen per cent of any pension or 184
annuity income, (II) for the taxable year commencing January 1, 2020, 185
twenty-eight per cent of any pension or annuity income, (III) for the 186
taxable year commencing January 1, 2021, forty-two per cent of any 187
pension or annuity income, and (IV) for the taxable years commencing 188
January 1, 2022, and January 1, 2023, one hundred per cent of any 189
pension or annuity income; 190
(xxi) To the extent properly includable in gross income for federal 191
income tax purposes, except for retirement benefits under clause (iv) of 192
this subparagraph and retirement pay under clause (xvi) of this 193
subparagraph, any pension or annuity income for the taxable year 194
commencing on or after January 1, 2024, and each taxable year 195
thereafter, in accordance with the following schedule, for a person who 196
files a return under the federal income tax as an unmarried individual 197
whose federal adjusted gross income for such taxable year is less than 198
one hundred thousand dollars, or as a married individual filing 199
separately whose federal adjusted gross income for such taxable year is 200
less than one hundred thousand dollars, or as a head of household 201
whose federal adjusted gross income for such taxable year is less than 202
one hundred thousand dollars: 203
T1
Federal Adjusted Gross Income Deduction
T2
Less than $75,000 100.0%
T3
$75,000 but not over $77,499 85.0%
T4
$77,500 but not over $79,999 70.0%
T5
$80,000 but not over $82,499 55.0%
T6 $82,500 but not over $84,999 40.0% Raised Bill No. 1278
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T7
$85,000 but not over $87,499 25.0%
T8
$87,500 but not over $89,999 10.0%
T9
$90,000 but not over $94,999 5.0%
T10
$95,000 but not over $99,999 2.5%
T11
$100,000 and over 0.0%
(xxii) To the extent properly includable in gross income for federal 204
income tax purposes, except for retirement benefits under clause (iv) of 205
this subparagraph and retirement pay under clause (xvi) of this 206
subparagraph, any pension or annuity income for the taxable year 207
commencing on or after January 1, 2024, and each taxable year 208
thereafter, in accordance with the following schedule for married 209
individuals who file a return under the federal income tax as married 210
individuals filing jointly whose federal adjusted gross income for such 211
taxable year is less than one hundred fifty thousand dollars: 212
T12
Federal Adjusted Gross Income Deduction
T13
Less than $100,000 100.0%
T14 $100,000 but not over $104,999 85.0%
T15
$105,000 but not over $109,999 70.0%
T16
$110,000 but not over $114,999 55.0%
T17
$115,000 but not over $119,999 40.0%
T18
$120,000 but not over $124,999 25.0%
T19
$125,000 but not over $129,999 10.0%
T20
$130,000 but not over $139,999 5.0%
T21
$140,000 but not over $149,999 2.5%
T22 $150,000 and over 0.0%
(xxiii) The amount of lost wages and medical, travel and housing 213
expenses, not to exceed ten thousand dollars in the aggregate, incurred 214
by a taxpayer during the taxable year in connection with the donation 215
to another person of an organ for organ transplantation occurring on or 216
after January 1, 2017; 217 Raised Bill No. 1278
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(xxiv) To the extent properly includable in gross income for federal 218
income tax purposes, the amount of any financial assistance received 219
from the Crumbling Foundations Assistance Fund or paid to or on 220
behalf of the owner of a residential building pursuant to sections 8-442 221
and 8-443; 222
(xxv) To the extent properly includable in gross income for federal 223
income tax purposes, the amount calculated pursuant to subsection (b) 224
of section 12-704g for income received by a general partner of a venture 225
capital fund, as defined in 17 CFR 275.203(l)-1, as amended from time to 226
time; 227
(xxvi) To the extent any portion of a deduction under Section 179 of 228
the Internal Revenue Code was added to federal adjusted gross income 229
pursuant to subparagraph (A)(xiv) of this subdivision in computing 230
Connecticut adjusted gross income, twenty-five per cent of such 231
disallowed portion of the deduction in each of the four succeeding 232
taxable years; 233
(xxvii) To the extent properly includable in gross income for federal 234
income tax purposes, for a person who files a return under the federal 235
income tax as an unmarried individual whose federal adjusted gross 236
income for such taxable year is less than seventy-five thousand dollars, 237
or as a married individual filing separately whose federal adjusted gross 238
income for such taxable year is less than seventy-five thousand dollars, 239
or as a head of household whose federal adjusted gross income for such 240
taxable year is less than seventy-five thousand dollars, or for a husband 241
and wife who file a return under the federal income tax as married 242
individuals filing jointly whose federal adjusted gross income for such 243
taxable year is less than one hundred thousand dollars, for the taxable 244
year commencing January 1, 2023, twenty-five per cent of any 245
distribution from an individual retirement account other than a Roth 246
individual retirement account; 247
(xxviii) To the extent properly includable in gross income for federal 248
income tax purposes, for a person who files a return under the federal 249 Raised Bill No. 1278
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income tax as an unmarried individual whose federal adjusted gross 250
income for such taxable year is less than one hundred thousand dollars, 251
or as a married individual filing separately whose federal adjusted gross 252
income for such taxable year is less than one hundred thousand dollars, 253
or as a head of household whose federal adjusted gross income for such 254
taxable year is less than one hundred thousand dollars, (I) for the taxable 255
year commencing January 1, 2024, fifty per cent of any distribution from 256
an individual retirement account other than a Roth individual 257
retirement account, (II) for the taxable year commencing January 1, 2025, 258
seventy-five per cent of any distribution from an individual retirement 259
account other than a Roth individual retirement account, and (III) for 260
the taxable year commencing January 1, 2026, and each taxable year 261
thereafter, any distribution from an individual retirement account other 262
than a Roth individual retirement account. The subtraction under this 263
clause shall be made in accordance with the following schedule: 264
T23
Federal Adjusted Gross Income Deduction
T24
Less than $75,000 100.0%
T25 $75,000 but not over $77,499 85.0%
T26
$77,500 but not over $79,999 70.0%
T27
$80,000 but not over $82,499 55.0%
T28
$82,500 but not over $84,999 40.0%
T29
$85,000 but not over $87,499 25.0%
T30
$87,500 but not over $89,999 10.0%
T31
$90,000 but not over $94,999 5.0%
T32
$95,000 but not over $99,999 2.5%
T33 $100,000 and over 0.0%
(xxix) To the extent properly includable in gross income for federal 265
income tax purposes, for married individuals who file a return under 266
the federal income tax as married individuals filing jointly whose 267
federal adjusted gross income for such taxable year is less than one 268
hundred fifty thousand dollars, (I) for the taxable year commencing 269
January 1, 2024, fifty per cent of any distribution from an individual 270 Raised Bill No. 1278
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retirement account other than a Roth individual retirement account, (II) 271
for the taxable year commencing January 1, 2025, seventy-five per cent 272
of any distribution from an individual retirement account other than a 273
Roth individual retirement account, and (III) for the taxable year 274
commencing January 1, 2026, and each taxable year thereafter, any 275
distribution from an individual retirement account other than a Roth 276
individual retirement account. The subtraction under this clause shall 277
be made in accordance with the following schedule: 278
T34
Federal Adjusted Gross Income Deduction
T35 Less than $100,000 100.0%
T36
$100,000 but not over $104,999 85.0%
T37
$105,000 but not over $109,999 70.0%
T38
$110,000 but not over $114,999 55.0%
T39
$115,000 but not over $119,999 40.0%
T40
$120,000 but not over $124,999 25.0%
T41
$125,000 but not over $129,999 10.0%
T42
$130,000 but not over $139,999 5.0%
T43 $140,000 but not over $149,999 2.5%
T44
$150,000 and over 0.0%
(xxx) To the extent properly includable in gross income for federal 279
income tax purposes, for the taxable year commencing January 1, 2022, 280
the amount or amounts paid or otherwise credited to any eligible 281
resident of this state under (I) the 2020 Earned Income Tax Credit 282
enhancement program from funding allocated to the state through the 283
Coronavirus Relief Fund established under the Coronavirus Aid, Relief, 284
and Economic Security Act, P.L. 116-136, and (II) the 2021 Earned 285
Income Tax Credit enhancement program from funding allocated to the 286
state pursuant to Section 9901 of Subtitle M of Title IX of the American 287
Rescue Plan Act of 2021, P.L. 117-2; 288
(xxxi) For the taxable year commencing January 1, 2023, and each 289
taxable year thereafter, for a taxpayer licensed under the provisions of 290 Raised Bill No. 1278
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chapter 420f or 420h, the amount of ordinary and necessary expenses 291
that would be eligible to be claimed as a deduction for federal income 292
tax purposes under Section 162(a) of the Internal Revenue Code but that 293
are disallowed under Section 280E of the Internal Revenue Code 294
because marijuana is a controlled substance under the federal 295
Controlled Substance Act; 296
(xxxii) To the extent properly includable in gross income for federal 297
income tax purposes, for the taxable year commencing on or after 298
January 1, 2025, and each taxable year thereafter, any common stock 299
received by the taxpayer during the taxable year under a share plan, as 300
defined in section 12-217ss; 301
(xxxiii) To the extent properly includable in gross income for federal 302
income tax purposes, the amount of any student loan reimbursement 303
payment received by a taxpayer pursuant to section 10a-19m; 304
(xxxiv) Contributions to an ABLE account established pursuant to 305
sections 3-39k to 3-39q, inclusive, not to exceed five thousand dollars for 306
each individual taxpayer or ten thousand dollars for taxpayers filing a 307
joint return; [and] 308
(xxxv) To the extent properly includable in gross income for federal 309
income tax purposes, the amount of any payment received pursuant to 310
subsection (c) of section 3-122a; and 311
(xxxvi) For the taxable year commencing January 1, 2025, and each 312
taxable year thereafter, the amount of any premiums paid in the taxable 313
year for a long-term care insurance policy issued pursuant to section 314
38a-475, 38a-501, as amended by this act, or 38a-528, as amended by this 315
act. 316
Sec. 2. Subdivision (2) of subsection (b) of section 38a-501 of the 317
general statutes is repealed and the following is substituted in lieu 318
thereof (Effective July 1, 2025): 319
(2) (A) Any insurance company, fraternal benefit society, hospital 320 Raised Bill No. 1278
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service corporation, medical service corporation or health care center 321
that files a rate filing for an increase in premium rates for a long-term 322
care policy that is for twenty per cent or more shall spread the increase 323
over a period of not less than three years and not file a rate filing for an 324
increase in premium rates for the long-term care policy during the 325
period chosen. Such company, society, corporation or center shall use a 326
periodic rate increase that is actuarially equivalent to a single rate 327
increase and a current interest rate for the period chosen. 328
(B) Prior to implementing a premium rate increase, each such 329
company, society, corporation or center shall: 330
(i) Notify its policyholders of such premium rate increase and make 331
available to such policyholders the additional choice of reducing the 332
policy benefits to reduce the premium rate or electing coverage that 333
reflects the minimum set of affordable benefit options developed by the 334
commissioner pursuant to section 38a-475a. Such notice shall include a 335
description of such policy benefit reductions and minimum set of 336
affordable benefit options. The premium rates for any benefit reductions 337
shall be based on the new premium rate schedule; 338
(ii) Provide policyholders not less than thirty calendar days to elect a 339
reduction in policy benefits or coverage that reflects the minimum set of 340
affordable benefit options developed by the commissioner pursuant to 341
section 38a-475a; and 342
(iii) Include a statement in such notice that if a policyholder fails to 343
elect a reduction in policy benefits or coverage that reflects the 344
minimum set of affordable benefit options developed by the 345
commissioner pursuant to section 38a-475a by the end of the notice 346
period and has not cancelled the policy, the policyholder will be deemed 347
to have elected to retain the existing policy benefits. 348
(C) Prior to implementing a premium rate increase exceeding ten per 349
cent, each such company, society, corporation or center shall hold a 350
public hearing on such rate increase. Policyholders shall be provided 351
notice of the date and time of such hearing not less than fourteen days 352 Raised Bill No. 1278
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in advance of such date. 353
Sec. 3. Subdivision (2) of subsection (b) of section 38a-528 of the 354
general statutes is repealed and the following is substituted in lieu 355
thereof (Effective July 1, 2025): 356
(2) (A) Any insurance company, fraternal benefit society, hospital 357
service corporation, medical service corporation or health care center 358
that files a rate filing for an increase in premium rates for a long-term 359
care policy that is for twenty per cent or more shall spread the increase 360
over a period of not less than three years and not file a rate filing for an 361
increase in premium rates for the long-term care policy during the 362
period chosen. Such company, society, corporation or center shall use a 363
periodic rate increase that is actuarially equivalent to a single rate 364
increase and a current interest rate for the period chosen. 365
(B) Prior to implementing a premium rate increase, each such 366
company, society, corporation or center shall: 367
(i) Notify its certificate holders of such premium rate increase and 368
make available to such certificate holders the additional choice of 369
reducing the policy benefits to reduce the premium rate or electing 370
coverage that reflects the minimum set of affordable benefit options 371
developed by the commissioner pursuant to section 38a-475a. Such 372
notice shall include a description of such policy benefit reductions and 373
minimum set of affordable benefit options. The premium rates for any 374
benefit reductions shall be based on the new premium rate schedule; 375
(ii) Provide certificate holders not less than thirty calendar days to 376
elect a reduction in policy benefits or coverage that reflects the 377
minimum set of affordable benefit options developed by the 378
commissioner pursuant to section 38a-475a; and 379
(iii) Include a statement in such notice that if a certificate holder fails 380
to elect a reduction in policy benefits or coverage that reflects the 381
minimum set of affordable benefit options developed by the 382
commissioner pursuant to section 38a-475a by the end of the notice 383 Raised Bill No. 1278
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period and has not cancelled the policy, the certificate holder will be 384
deemed to have elected to retain the existing policy benefits. 385
(C) Prior to implementing a premium rate increase exceeding ten per 386
cent, each such company, society, corporation or center shall hold a 387
public hearing on such rate increase. Policyholders shall be provided 388
notice of the date and time of such hearing not less than fourteen days 389
in advance of such date. 390
This act shall take effect as follows and shall amend the following
sections:
Section 1 from passage and
applicable to taxable years
commencing on or after
January 1, 2025
12-701(a)(20)(B)
Sec. 2 July 1, 2025 38a-501(b)(2)
Sec. 3 July 1, 2025 38a-528(b)(2)
AGE Joint Favorable C/R INS