This bill amends existing law to grant the insurance commissioner the authority to approve innovative short- or long-term care insurance policies and their associated rates. The new legal language inserted into RSA 415-D:5 establishes a new paragraph (V) that allows the commissioner to approve these policies as long as they are deemed not contrary to the public's best interest and the benefits provided are reasonable in relation to the premiums charged.

The bill does not delete any existing provisions but adds this new framework to enhance the flexibility and innovation in the insurance market for long-term care. The act is set to take effect 60 days after its passage, with an approval date of June 12, 2026, and an effective date of August 11, 2026.

Statutes affected:
Introduced: 415-D:5, 400-A:15-f
As Amended by the Senate: 415-D:5, 400-A:15-f
As Amended by the House: 415-D:5
Version adopted by both bodies: 415-D:5
CHAPTERED FINAL VERSION: 415-D:5
SB610 text: 415-D:5, 400-A:15-f