The proposed bill, General Assembly Proposed Bill No. 5066, aims to amend title 38a of the general statutes to establish contracted premium rates specifically for long-term care insurance policies. This legislative initiative is introduced by Representative Bolinsky from the 106th District and is referred to the Committee on Insurance and Real Estate. The primary purpose of the bill is to create a standardized framework for premium rates in the long-term care insurance market, which could enhance predictability and affordability for consumers.

The bill does not specify any deletions from current law but focuses on the insertion of new legal language that would formalize the establishment of these contracted premium rates. By doing so, it seeks to address potential issues related to the variability of premium costs in long-term care insurance, thereby providing greater financial security for policyholders.