Definition of partnership policy expanded for purposes of the Minnesota partnership for long-term care program.

This bill expands the definition of "partnership policy" under Minnesota's long-term care program to include long-term care insurance policies sold before July 1, 2015, that have 1-3% annual inflation protection. It directly affects Minnesota residents who purchased such policies prior to 2015, making them eligible for the program's benefits. The key change adds this specific category of older policies to the existing definition, which previously covered policies issued or exchanged on or after July 1, 2006. The amendment takes effect January 1, 2027, or after federal approval, whichever comes later.