SB 912 - Under current law, no long-term care insurance policy shall 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 act specifies that the amount of the increase also shall not exceed the lesser of the percentage change in the Consumer Price Index for All Urban Consumers, or five percent.

This act is similar to the introduced SB 288 (2021) and SB 1067 (2020).

ERIC VANDER WEERD

Statutes affected:
Introduced (4195S.01): 376.1109