An Act amending the act of May 17, 1921 (P.L.682, No.284), known as The Insurance Company Law of 1921, in long-term care, providing for premium rate increases.

HB 950 amends Pennsylvania's 1921 Insurance Company Law to regulate long-term care insurance premiums. It prohibits insurers from increasing premiums based on the policyholder's age or how long they've held the policy, and caps annual renewal increases at 15% of the prior year's premium. The state insurance commissioner must disapprove increases deemed excessive, unjustified, or unfairly discriminatory, or if they exceed the 15% annual cap. Insurers may request a higher increase (over 15%) only if they demonstrate unexpected high usage of policy benefits, with commissioner approval. This directly affects long-term care policyholders and insurers operating in Pennsylvania.