Illinois State Library

Electronic Documents of Illinois

Electronic Documents of Illinois

Document Identification

Users should pay particular attention to version identification or dates of publication of documents retrieved. Earlier, possibly superseded, versions of documents are also stored here.

Title

  • State Moves to Cap Long Term Care Insurance Premium Rates

Description

  • Illinois Department of Insurance (DOI) Director Andrew Boron today announced the departments effort to protect long term care policyholders. DOI, with help from State Representative Robyn Gabel (18th District - Evanston), has proposed HB 2333 which calls for a 15% annual cap on a premium rate for a policyholders Long Term Care Insurance. Long term care (LTC) refers to the services and supports provided to people who need assistance with basic activities, such as bathing and dressing, because of chronic physical illness, or disabling conditions such as dementia. To offset the high costs associated with long term care, many people purchased insurance coverage. These policies were originally sold as having level premiums that would not increase based on age or health situation. Now, the policyholders who have been paying for a decade or more are shocked to receive notice that their monthly premium has skyrocketed as much as 200%.

Originally Deposited as: 26381

Published By:
Phone Number:

Language(s): EN-English

Volume or Year: 2013
Number or Issue: February 20

Date Created: 02 20 2013
Date Last Modified: 02 20 2013

Librarian Remarks:

Access This Publication

1. State Moves to Cap Long Term Care Insurance Premium Rates (022013DOIHB2333-LTC.doc).
Document Size:136704 Software: Microsoft Word Version: 97-2003

This is part of a series. It is part of Press releases from the Governor's agencies: 46768