Insurers to submit long-term care insurance premium rate filings to the Department of Commerce and Insurance on or after August 28, 2026, and includes director of DCI's responsibility to approve or disapprove the rates

HB 2612 requires insurance companies selling long-term care insurance in the state to submit premium rate proposals to the Department of Commerce and Insurance (DCI) for prior approval before implementing them, effective August 28, 2026. Insurers cannot charge new or changed premiums without DCI's written approval, and DCI must act within 90 days (or the rate is automatically approved). DCI may disapprove rates if they are unreasonable, unfairly discriminatory, excessive, or based on unrealistic assumptions, providing written reasons for rejection. The bill also mandates public hearings or comment periods for rate filings and gives DCI authority to later revise approved rates.