PARRIS N. GLENDENING, Governor

Ch. 35

18-116. INCREASES TO PREMIUMS.

(A) IN GENERAL.

EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, A PREMIUM
INCREASE UNDER LONG-TERM CARE INSURANCE MAY NOT BE BASED ON THE AGE
OF THE INSURED OR CERTIFICATE HOLDER.

(B) EXCEPTION.

A CARRIER MAY IMPOSE AN ACROSS-THE-BOARD PREMIUM INCREASE TO ALL
POLICIES OR CONTRACTS OF LONG-TERM CARE INSURANCE THAT THE CARRIER
ISSUES OR DELIVERS IN THE STATE AFTER THE CARRIER:

(1) SUBMITS TO THE COMMISSIONER AN ACTUARIAL MEMORANDUM
THAT SUPPORTS THE PROPOSED PREMIUM INCREASE; AND

(2) OBTAINS THE APPROVAL OF THE COMMISSIONER.

(C) EFFECT OF SECTION.

THIS SECTION DOES NOT PROHIBIT AGE-BANDING.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 48A, § 649.

In subsections (a) and the introductory language of (b) of this section, the
defined term "long-term care insurance" is substituted for the former
reference to "long-term health insurance" for conformity to the terminology
used throughout this title.

In subsection (b)(1) of this section, the reference to the requirement that the
carrier submit an actuarial memorandum "to the Commissioner" is added for
clarity.

Defined terms: "Carrier" § 18-101
"Certificate" § 18-101
"Commissioner" § 1-101
"Long-term care insurance" § 18-101
"Policy" § 1-101
"Premium" § 1-101

18-117. REPORTS ABOUT BENEFITS FUNDED BY ACCELERATION OF DEATH
BENEFITS.

(A) REQUIRED.

WHENEVER A LONG-TERM CARE BENEFIT THAT IS FUNDED THROUGH A LIFE
INSURANCE VEHICLE BY THE ACCELERATION OF THE DEATH BENEFIT IS IN BENEFIT
PAYMENT STATUS, THE CARRIER SHALL PROVIDE A MONTHLY REPORT TO THE
POLICYHOLDER.

(B) CONTENTS OF REPORT.

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