Amended
IN
Assembly
June 12, 2018 |
Amended
IN
Senate
April 12, 2018 |
Senate Bill | No. 1046 |
Introduced by Senator Roth |
February 08, 2018 |
Every policy or certificate shall include a provision that gives the policyholder or certificate holder the following rights to reduce coverage and lower premiums:
(a)A
(1)
(2)Reducing the nursing facility per diem and reducing the home- and community-based service benefits of a home care only policy and of a comprehensive long-term care policy.
(3)
(c)If the contract in force at the time a reduction in coverage is made provides for benefit adjustments for anticipated increases in the costs of long-term care services, then the reduced nursing facility per diem, lifetime maximum benefit, and daily, weekly, or monthly home care benefits shall be adjusted in the same manner and in the same amount as the contract in
force prior to the reduction in coverage.
(f)If a reduction in coverage involves the
reduction or elimination of an inflation protection provision, the insurer shall allow the insured to continue the benefit amount in effect at the time of the reduction or elimination.