1. (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.

2. (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. (1) submits to the Commissioner an actuarial memorandum that supports the proposed premium increase; and
   2. (2) obtains the approval of the Commissioner.
3. (c) This section does not prohibit age-banding.

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997. Amended by Acts 2001, c. 329, § 1, eff. Oct. 1, 2001.

Formerly Art. 48A, § 649.