SF 3484 Minnesota Senate · 2025-2026 Regular Session

Long-term care partnership policies inflation protection modifications

SF 3484 amends Minnesota Statutes to expand the definition of "partnership policy" for the Minnesota Partnership for Long-Term Care Program. It adds long-term care insurance policies sold before July 1, 2015, with 1-3% annual inflation protection to the list of qualifying policies. This change directly affects Minnesotans who purchased such policies prior to 2015, allowing them to count toward the program’s requirements. The amendment takes effect January 1, 2027, or upon federal approval, whichever comes later.

Issues: ✓ Healthcare

Bill status in committee 1 of 4 stages cleared

Introduction

May 2025

Committee Review

Floor Vote

Governor

Introduced May 5, 2025 Last action Mar 18, 2026

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What changed between versions

Introduction → 1st Engrossment · 6 edits · Mar 17, 2026

MODERATE

The bill was reclassified from an 'Introduction' to a '1st Engrossment' with a date update, indicating it has been amended and re-submitted. The core policy change shifts the bill's focus from expanding the definition of partnership policies to mandating specific inflation protection features for all new long-term care insurance policies. It requires insurers to offer options that compound benefits by at least 5% annually or cover a specified percentage of charges without limits, while adjusting minimum inflation protection rates based on whether the policy was sold before or after July 1, 2015.

Scope change

The bill's scope changed from a definition update to a substantive regulatory requirement for all insurers offering long-term care insurance, with specific rules applied based on the policy sale date.

REQUIREMENT

The bill was updated from an 'Introduction' to a '1st Engrossment' with the posting date changed from March 16, 2026, to March 19, 2026.

Insurers are now required to offer inflation protection options that compound benefits annually by at least 5% or cover a specified percentage of charges without a maximum limit.

New rules mandate that policies sold to individuals under age 61 must provide compound annual inflation protection, while those sold to individuals aged 61 to 76 must provide some level of inflation protection.

Minimum inflation protection rates were adjusted based on sale date: policies sold on or after July 1, 2015, must offer at least 1% annual increase, while pre-2015 policies must offer at least 3% or a CPI-based rate.

SCOPE

The legislative purpose was changed from expanding the definition of partnership policies to modifying inflation protection rules for long-term care policies.

DEFINITION

The previous definition of 'partnership policy' was removed and replaced with detailed inflation protection mandates.

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Full legislative history

Actions timeline

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Key actions

Committee

Mar 17, 2026

Upper · Passed

Comm report: To pass as amended and re-refer to Commerce and Consumer Protection

upper

May 5, 2025

Committee

Referred to Human Services

upper

May 5, 2025

Introduced

Introduction and first reading

upper

1 primary · 3 co-sponsors