PA HB950

Prohibits long-term care insurance premiums from increasing based on the insured's age or the length of time they have been covered under the policy

Caps renewal premium rate increases at 15% of the premium charged during the preceding 12-month period

Requires the Insurance Commissioner to disapprove rate increases if benefits are unreasonable relative to premiums, if rates are excessive, unjustified, or unfairly discriminatory, or if increases exceed the 15% annual cap

Allows insurers to exceed the 15% cap only with Commissioner approval and upon demonstrating that higher utilization of policy benefits than expected necessitates the larger increase

Takes effect 60 days after enactment