Bill
Bill > A2566
NJ A2566
NJ A2566Requires 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 get prior approval from the Commissioner of Banking and Insurance (DOBI) before they can use new rates for long-term care insurance policies that are sold to groups of people. Currently, this prior approval requirement only applies to long-term care insurance policies sold to individuals. The bill amends existing law to extend this oversight 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 (2)
Last Action
Introduced, Referred to Assembly Financial Institutions and Insurance 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/A2566 |
| BillText | https://pub.njleg.gov/Bills/2026/A3000/2566_I1.HTM |
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