Long-term care insurance legislation advances

Long-term care insurance legislation advances

Calling it the start of a “conversation,” legislators on the Aging Committee voted to pass a bill that would boost transparency around long-term care insurance rate increases and offer consumer protections. The amended bill would require the state Department of Insurance to hold a public hearing when insurers’ rate hike requests exceed 10% and notify lawmakers at least 14 days in advance of a hearing. It also would require insurance companies to…