ElderWeb

California SB2111 has been passed by the legislature. It will add agents and company representatives to the working group responsible for helping state insurance regulators come up with the content and format for the state's annual LTC rate stability guide. The bill would also allow insurers to focus consumers' attention on rate increases affecting California LTC policies, rather than on increases affecting policies sold throughout the United States.

Current law requires insurers to report and the consumer guide to include summaries of coverage of any policy sold in any state for the last ten years. The bill's author, Senator Joseph Dunn, believes this voluminous amount of information is of little use to California consumers since they can only purchase those policies which are sold in California. Dunn believes the bill makes it clear that the rate guide is intended to have two sections: a rate comparison section of all policies sold in any state in the last ten years, and a policy comparison section comparing policies available for purchase in California.