CT SB01269

Insurance Department must submit a report by February 1, 2026 evaluating an alternative pool for long-term care policyholders with policies exceeding 20 years, plus a separate report evaluating individual and group long-term care premium rate filing processes

Creates a 20% state income tax credit for long-term care insurance premiums paid by Connecticut residents with federal adjusted gross income under $200,000, effective for taxable years beginning January 1, 2026

Caps premium rate increases for long-term care policies at 10% per filing, with a lower cap tied to the Consumer Price Index for policyholders who have held their policy for 15 years or more

Establishes new disclosure requirements for long-term care riders attached to annuity contracts, including costs, benefit triggers, exclusions, and a 30-day penalty-free cancellation period

Requires all life insurance or annuity policies with long-term care riders to be filed with and approved by the Insurance Commissioner before delivery, and mandates that insurance producers selling such products be licensed for both life and health insurance