Bill > SF3484

This bill expands the definition of a "partnership policy" within Minnesota's long-term care program by including long-term care insurance policies sold before July 1, 2015, that have inflation protection between one and three percent. Currently, partnership policies are defined as long-term care insurance policies meeting specific state criteria and issued or exchanged on or after July 1, 2006. The bill aims to broaden the scope of policies that qualify under this program, potentially providing more options for individuals seeking long-term care insurance. The change will become effective on January 1, 2027, or upon federal approval, whichever occurs later, with the commissioner of human services required to notify the revisor of statutes once federal approval is obtained. This modification could help more people access beneficial long-term care insurance options by recognizing policies with slightly different inflation protection rates.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF3484&ssn=0&y=2025