Establishes rules for long-term care insurance premium rates in Missouri.
The bill mandates the director of the Department of Commerce and Insurance to review and approve long-term care insurance premium rates before implementation. Insurers must file premium rates with the director, who can disapprove or modify rates if they are deemed unreasonable, unfairly discriminatory, or excessive. The director must hold public hearings or solicit comments on rate filings. If no action is taken within ninety days, the rates are approved. The bill also outlines the factors the director should consider when reviewing rates.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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