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HB 5304

AN ACT CONCERNING LONG-TERM CARE INSURANCE PREMIUM RATES.

2026 Regular Session Introduced by Saud Anwar and 16 co-sponsors

Connecticut bill regulates long-term care insurance premium rate increases to balance consumer affordability with insurer financial stability and market participation.

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Bill Summary · HB 5304

Legislative bill overview

HB 5304 addresses the regulation and management of long-term care insurance premium rates in Connecticut. The bill, currently in the joint committee on aging following a public hearing, aims to establish or modify how insurers can adjust premiums for long-term care policies. This reflects growing concerns about affordability and stability in the long-term care insurance market.

Why is this important

Long-term care insurance is critical for individuals planning to cover nursing home, assisted living, or in-home care costs, which can exceed $100,000 annually. Premium increases on existing policies have been a significant issue nationally, with many insurers raising rates substantially, sometimes forcing policyholders to drop coverage. Connecticut's regulatory action could protect consumers from unexpected rate spikes while balancing insurer solvency concerns.

Potential points of contention

  • Rate increase limitations vs. insurer sustainability: Strict caps on premium increases could make policies more affordable but may discourage insurers from offering coverage or lead to inadequate reserves
  • Retroactive application: Whether new rules apply only to future policies or also existing ones affects current policyholders differently
  • Consumer protection burden: Determining appropriate oversight mechanisms and enforcement costs between the state insurance department and consumers seeking relief

Compiled from official sources — confirm details with the bill’s official record.

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