OH HB567

Insurers offering long-term care insurance cannot raise premium rates by more than 15 percent from one year to the next

The superintendent of insurance must hold a publicly advertised hearing before approving any premium rate increase for long-term care insurance policies

Insurers must notify policyholders of approved premium rate increases at least 90 days before the increase becomes effective

Approved premium rate increases cannot become effective until 90 days after approval

Violations of these limitations are classified as unfair and deceptive insurance practices under Ohio Revised Code sections 3901.19 to 3901.23