§ 18-116
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/md/insurance/18-116A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§18–116.
(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.