MN HF3798

Prohibits increases in long-term care insurance premiums on existing policies without advance notice to policyholders and commissioner approval, effective January 1, 2011.

Requires insurers to provide at least 45 days' advance notice before implementing premium rate schedule increases and must include commissioner-prepared information on how policyholders can provide meaningful input to the commissioner's decision.

Mandates insurers file premium rate increase requests with the commissioner at least 60 days before notifying policyholders, and requires certification by a qualified actuary that no further increases are anticipated if assumptions are realized.

Defines "exceptional increase" as premium increases justified by changes in state laws or rules for long-term care coverage or unexpected utilization affecting majority of similar product insurers, subject to commissioner review and potential offset consideration.

Establishes minimum long-term care policy requirements including $25,000 lifetime benefit limit, coverage of preexisting conditions within six months, waiting periods up to 180 days, and prohibition on requiring prior hospitalization or homebound status.