Long-term care insurance.

Existing law provides for the regulation of long-term care insurance, as defined, and requires the Insurance Commissioner to review and approve individual and group policies, certificates, riders, and outlines of coverage. This bill would require, only until January 1, 2021, the commissioner to commission an annual study comparing the statutory requirements for long-term care products in this state with the statutory requirements governing long-term care products as set forth in the Interstate Insurance Product Regulation Compact developed by the Interstate Insurance Product Regulation Commission. The bill would also require the commissioner to provide a report to the Legislature, on or before January 1, 2017, and each January 1 thereafter, until January 1, 2021, comparing the marketability and affordability of long-term care insurance products in this state with similar products in New York, Texas, and Florida.