AN ACT CONCERNING THE REGULATION OF PREMIUM RATES ON LONG-TERM CARE INSURANCE POLICIES.

SB 187 regulates long-term care insurance premium rates in Connecticut. It requires insurers to provide clear pre-purchase notices about the risk of large future premium hikes (over 10%) to potential buyers. The bill also mandates public hearings by the Insurance Department for any premium increase request exceeding 10% and directs the department to evaluate a new cost-sharing pool for policyholders with coverage over 20 years. These changes aim to increase transparency and protect consumers from unexpected rate jumps.