CT SB01278

Long-term care insurance premiums paid during the taxable year become fully deductible from Connecticut adjusted gross income, effective for taxable years beginning January 1, 2025

Premium rate increases of 20% or more must be spread over at least three years, with no additional rate filings permitted during that period

Insurers must hold a public hearing before implementing any premium rate increase exceeding 10%, with policyholders receiving at least 14 days advance notice

Policyholders must receive at least 30 days notice before premium increases take effect, along with options to reduce benefits or elect minimum affordable coverage to lower costs

Policyholders who do not respond to rate increase notices and do not cancel their policy are deemed to have elected to retain existing benefits