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Bill > S2354
NJ S2354
NJ S2354Requires prior approval from Commissioner of DOBI for rate filings for long-term care insurance issued on group basis.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
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.
AI Summary
This bill requires that insurance companies seeking to set rates for long-term care insurance policies sold to groups must first get approval from the Commissioner of Banking and Insurance (DOBI). Previously, only rate changes for individual long-term care insurance policies needed this prior approval, but this legislation extends that requirement to group policies, ensuring that all rate filings for long-term care insurance demonstrate that the benefits are fair for the cost and that the rates are not too high, too low, or discriminatory.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S2354 |
| BillText | https://pub.njleg.gov/Bills/2026/S2500/2354_I1.HTM |
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