| Sec. 7. Annual reports. Beginning March 1, 2000, the Bureau of |
Insurance shall collect information on long-term care insurance |
and provide a report by March 1st each year to the Commissioner |
of Human Services, the Joint Standing Committee on Health and |
Human Services and the public. The information collected must |
include the number and types of policies purchased by consumers, |
the cost of premiums, daily benefit levels and the duration of |
benefits. Information must also be collected on policies paying |
benefits to or for consumers, including the types of policies, |
daily benefit levels and the remaining duration of benefits. The |
bureau shall also conduct a study of the use of individual income |
tax credits as incentives to encourage the purchase of long-term |
care insurance. The study must analyze the effectiveness of tax |
credits in encouraging the purchase of long-term care insurance |
in other states and the anticipated cost to the State from |
establishing a tax credit for all or part of the premium cost of |
qualifying long-term care policies. The bureau shall provide a |
report to the Joint Standing Committee on Health and Human |
Services by January 1, 2000. |