STATE OF NEW JERSEY
222nd LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2026 SESSION
Sponsored by:
Assemblywoman ROSAURA "ROSY" BAGOLIE
District 27 (Essex and Passaic)
Co-Sponsored by:
Assemblyman Calabrese
SYNOPSIS
Requires prior approval from Commissioner of DOBI for rate filings for long-term care insurance issued on group basis.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act concerning long-term care insurance and amending P.L.2003, c.207.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 11 of P.L.2003, c.207 (C.17B:27E-11) is amended to read as follows:
11. An insurer providing long-term care insurance issued on an individual or group basis in this State shall file, for the commissioner's approval, its rates, rating schedule and supporting documentation demonstrating that it is in compliance with the applicable loss ratio standards of this State. All filings of rates and rating schedules shall demonstrate that the benefits are reasonable in relation to the premium charged and that the rates are not excessive, inadequate or unfairly discriminatory.
(cf: P.L.2003, c.207, s.11)
2. This act shall take effect immediately.
STATEMENT
This bill modifies the regulation of long-term care insurance to require that rate filings for long-term care insurance, issued on a group basis, must receive prior approval from the Commissioner of Banking and Insurance. Currently, only rate filings for long-term care insurance issued on an individual basis require prior approval from the commissioner.