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2001 SESSION
HB 2228 Long-term care insurance; rating practices disclosure; study.
Introduced by: Franklin P. Hall | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Long-term care insurance; rating practices disclosure. Requires the State Corporation Commission's standards for provisions of long-term care insurance policies to address the disclosure of rating practices to consumers. The Joint Commission on Health Care and the Bureau of Insurance are required to (i) monitor the implementation of the revisions to the NAIC's Long-Term Care Insurance Model Regulation dealing with Initial Filing Requirements and Premium Rate Schedule Increases, (ii) document the experience of other states that have implemented the revised regulation, and (iii) recommend whether Virginia should adopt the revised regulation.
SUMMARY AS INTRODUCED:
Long-term care insurance; rating practices disclosure. Requires the State Corporation Commission's standards for provisions of long-term care insurance policies to address the disclosure of rating practices to consumers. The Joint Commission on Health Care and the Bureau of Insurance are required to (i) monitor the implementation of the revisions to the NAIC's Long-Term Care Insurance Model Regulation dealing with Initial Filing Requirements and Premium Rate Schedule Increases, (ii) document the experience of other states that have implemented the revised regulation, and (iii) recommend whether Virginia should adopt the revised regulation.