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Policyholders, advocates press lawmakers to address runaway long‑term care insurance premium hikes
Summary
Policyholders and advocates told the Aging Committee that long‑term care insurance premiums have risen steeply—sometimes several hundred percent—leaving many unable to afford coverage. Witnesses urged statutes requiring insurer disclosures, caps or public hearings on rate increases and a multi‑stakeholder task force to craft budget‑neutral fixes.
Policyholders who bought private long‑term care insurance decades ago described steep premium increases and urged the Aging Committee to adopt stronger remedies than the modest tax deduction proposed in HB 5304.
Amelia Smith, an executive‑board member of the Connecticut Alliance for Retired Americans, said her monthly premium rose from $85.50 when she bought the policy in 1994 to $838.46 in 2026. Jan Kritzman, who testified with her husband, said a combined annual premium her family paid in 2004 of about $2,000 has climbed to $7,000 in 2026. Those were among dozens of personal accounts that lawmakers heard at the hearing.
David Schwartzer, an industry veteran, told the committee HB 5304 repeats failed prior proposals and urged the committee instead to adopt a four‑part package he and other advocates have drafted to address insurer practices, rate filings and regulatory oversight. Schwartzer argued the proposals are budget‑neutral and would reduce future Medicaid liabilities by preserving private coverage.
Advocates and committee members pressed for concrete remedies. Ideas raised included requiring public hearings before approving rate increases, requiring insurers to disclose reinsurance and recoveries, placing caps on percentage increases tied to actuarial measures, and creating a task force with consumer, insurer, regulator and legislative representation to produce enforceable, budget‑neutral solutions.
Several legislators noted jurisdictional complexity: private‑market rate approvals commonly involve the Connecticut Insurance Department and the Insurance Committee, while the Aging Committee can advance consumer‑facing remedies and convene stakeholders. Representative Mike D'Amico urged amendments to HB 5304 to require disclosures and limits; others said the bill should be expanded into the collaborative task force he proposed.
The hearing closed with committee chairs committing to further stakeholder meetings and asking the Insurance Department and advocates to provide data models and factual summaries to inform next steps. No final legislative action was taken at the hearing.
