| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to regulation of premium rates for long-term care |
|
|
insurance. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter B, Chapter 1651, Insurance Code, is |
|
|
amended by adding Section 1651.056 to read as follows: |
|
|
Sec. 1651.056. REVIEW; APPROVAL OR DISAPPROVAL OF PREMIUM |
|
|
RATES. (a) A long-term care premium rate may not be used until the |
|
|
rate has been filed with the department and approved by the |
|
|
commissioner. |
|
|
(b) The commissioner may disapprove a long-term care |
|
|
premium rate that does not comply with standards established under |
|
|
this chapter or adopted by rule by the commissioner. |
|
|
SECTION 2. This Act applies only to a long-term care |
|
|
insurance policy, contract, or evidence of coverage that is |
|
|
delivered, issued for delivery, or renewed on or after January 1, |
|
|
2010. A long-term care insurance policy, contract, or evidence of |
|
|
coverage delivered, issued for delivery, or renewed before January |
|
|
1, 2010, is governed by the law as it existed immediately before the |
|
|
effective date of this Act, and that law is continued in effect for |
|
|
that purpose. |
|
|
SECTION 3. This Act takes effect September 1, 2009. |