CT SB01420

Office of Policy and Management must establish consumer outreach program on long-term care needs, financing options, insurance availability, and Medicaid asset protection

Secretary of OPM required to file annual reports starting January 15, 2026 on incurred and paid losses for precertified long-term care policies, with links posted on OPM and Insurance Department websites

By October 1, 2025, OPM must report on feasibility of requiring insurers to offer full premium refunds when rate increases exceed inflation

Long-term care insurance policies cannot be precertified if executive compensation is tied to approval of higher policyholder rates

For precertified Partnership policies, Insurance Commissioner prohibited from approving rate increases greater than what was allowable at time of original precertification