Bill > AB999

This bill amends California's Insurance Code to enhance consumer protections and transparency in the long-term care insurance market. It mandates the creation and annual publication of a consumer rate guide by the Insurance Commissioner, which will compare different policy types, benefits, and sample premiums, and include a history of premium rate increases by insurers. The bill also requires insurers to provide more detailed information for this guide and to ensure their agents receive adequate training on long-term care insurance and related services. Furthermore, it clarifies the standards for determining if benefits are reasonable in relation to premiums, particularly for policies issued before new rate schedules are approved, and sets specific requirements for insurers seeking to increase premiums, including actuarial certifications and justifications for the increases. The bill also extends some of these provisions to group long-term care insurance policies.