New Jersey A2566 requires the Commissioner of Banking and Insurance to approve rate filings for long-term care insurance issued on a group basis.
New Jersey A2566 amends existing law to require the Commissioner of Banking and Insurance to approve rate filings for long-term care insurance issued on a group basis. Currently, only individual basis rate filings require prior approval. This change aims to ensure that group-based insurance rates are also reviewed for compliance with state standards, ensuring they are reasonable and not excessive. The bill takes effect immediately upon enactment.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.