Connecticut witnesses broad testimony on long-term care insurance as lawmakers consider SB 1269

State lawmakers and dozens of testifiers spent the Insurance and Real Estate Committee hearing pressing for changes to Connecticut’s long-term care insurance rules as the committee considered Senate Bill 1269 and related proposals.

The hearing featured policyholders who said steep, recent premium increases have forced seniors to consider dropping coverage they purchased decades ago, and advocates who urged lawmakers to adopt proposals they said would return money to policyholders or limit future hikes. Industry representatives warned that binding caps on rate changes would jeopardize insurers’ ability to pay future claims.

Why it matters: Connecticut has about 70,000 long-term care policyholders who, witnesses told the committee, face double- and triple-digit premium increases for policies sold decades ago. If many policyholders drop coverage, advocates said, the state could face higher Medicaid costs for long-term care.

“My name is David Schwartzer. I’m from Newington, Connecticut, and I’m here today in opposition of SB 12 69 as it’s currently written,” said David Schwartzer, a policyholder who addressed the committee. “Respectfully, this bill does not bring relief to the 70,000 and perhaps even more Connecticut residents, mostly seniors, who are being forced to choose between buying food, paying their rent or…