Sec. 1. 24-A MRSA §5055, sub-§6 is enacted to read:

6.__Required disclosures.__An insurance company that offers an insurance policy that is certified by the superintendent as a long-term care policy shall disclose on all applications and outlines of long-term care coverage and on the face of all certified policies and certificates that:

A.__The policy has been certified as a long-term care policy by the superintendent under section 5054; and

B.__Any person paying premiums in whole or in part for coverage under an individual or group long-term care policy certified by the superintendent qualifies for the income tax deduction provided for in Title 36, section 5122.

SUMMARY

This bill requires that insurers disclose to policyholders on all applications and outlines of long-term care coverage and on the face of long-term care insurance policies and certificates if the policy is certified by the Superintendent of Insurance and that premiums paid for the policy are deductible for state income tax purposes.