Md. Code, IN§ 18-116

Current with changes from the 2024 legislative session from Chs. 2 through 1049, effective on or before 6/1/2024
Section 18-116 - Increases to premiums
(a) 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) A carrier may impose an across-the-board premium increase on 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) This section does not prohibit age-banding.

Md. Code, IN§ 18-116