SENATE DOCKET, NO. 1516        FILED ON: 1/17/2019

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 591

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Cindy F. Friedman

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to long-term care insurance consumer protections.

_______________

PETITION OF:

 

Name:

District/Address:

 

Cindy F. Friedman

Fourth Middlesex

 

Kenneth I. Gordon

21st Middlesex

2/1/2019


SENATE DOCKET, NO. 1516        FILED ON: 1/17/2019

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 591

By Ms. Friedman, a petition (accompanied by bill, Senate, No. 591) of Cindy F. Friedman and Kenneth I. Gordon for legislation relative to long-term care insurance consumer protections.  Financial Services.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Ninety-First General Court
(2019-2020)

_______________

 

An Act relative to long-term care insurance consumer protections.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Subsection (a) of section 3 of chapter 176U of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by inserting after the first sentence the following sentence:-

A long-term care insurance policy entered into on or after January 1, 2012 shall: (i) have a loss ratio between eighty percent and ninety percent; and (ii) cap premium increases at twenty percent over the life of the policy.

SECTION 2. Subsection (d) of said section 3 of said chapter 176U, as so appearing, is hereby amended by inserting after the word “regulation”, in line 50, the following words:- ; provided further, that regulations shall be adopted  in accordance with subsection (a) of this section.

SECTION 3. Clause (vi) of subsection (a) of section 7 of said chapter 176U, as so appearing, is hereby amended by inserting after the words “determinations and penalties”, in lines 24 and 25, the following words:- ; provided, that filings served upon the division of insurance related to rate increases must be served concurrently on the office of the attorney general and notice provided to policyholders.

SECTION 4. Subsection (c) of said section 7 of said chapter 176U, as so appearing, is hereby amended by striking out the words “, in the commissioner’s discretion and may, on motion of the attorney general,”.