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Senate panel debates modernizing long-term care insurance rules and public hearing authority
Summary
Lawmakers and the insurance commissioner debated SB 6 10, which would codify standards for long-term care insurance form and rate review and authorize (but not require) public hearings on filings; consumer witnesses described steep premium increases and urged stronger transparency and mandatory hearings.
Senator Denise Ricciardi introduced SB 6 10 as an update to New Hampshire’s long-term care insurance framework, saying the bill clarifies regulatory standards, preserves consumer protections, and allows — but does not require — public hearings on form and rate filings.
DJ Betancourt, commissioner of the New Hampshire Insurance Department, told the committee the market is shaped by historical mispricing: early long-term care products were designed with faulty lapse-rate assumptions, and insurers are now seeking large premium increases to remain solvent.…
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