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A BILL TO BE ENTITLED
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AN ACT
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relating to loss ratio standards for long-term care benefit plans. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1651.053, Insurance Code, is amended by |
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adding Subsection (e) to read as follows: |
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(e) The commissioner may enter into an agreement with an |
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entity issuing a long-term care benefit plan under which the entity |
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agrees that if the plan rates are increased, the entity will |
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demonstrate and maintain a loss ratio for the plan that is higher |
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than the loss ratio otherwise required to be demonstrated under |
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rules governing rate increases for the plan if the commissioner |
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determines that the increased rates comply with any other law |
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governing long-term care benefit plan rates. |
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SECTION 2. This Act takes effect September 1, 2009. |