Requires prior approval from Commissioner of DOBI for rate filings for long-term care insurance issued on group basis.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill would require the Commissioner of the New Jersey Department of Banking and Insurance (DOBI) to approve rate filings for long-term care insurance policies sold on a group basis. Currently, only individual long-term care insurance rates require this approval. The bill aims to ensure that rates charged for group long-term care insurance are reasonable and comply with state regulations. This change would increase the state’s oversight of these types of insurance policies.
Bill text
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