AN ACT CONCERNING LONG-TERM CARE INSURANCE PREMIUM RATE INCREASES.

SB 1129 would protect Connecticut consumers who purchase long-term care insurance from sudden financial burdens caused by premium increases. The bill requires a review of how insurers adjust premiums for these policies, amending state law to ensure the rate adjustment process is fair and transparent. It directly affects policyholders of long-term care insurance in Connecticut by potentially limiting unexpected rate hikes. The key mechanism is a mandated review of the existing premium adjustment process, aiming to prevent excessive increases without specifying new limits or approval requirements.