CA Commissioner of Insurance Releases Alert

WHAT YOU NEED TO KNOW

• The California Department of Insurance has received complaints that several agents and insurers are misleading consumers about the need to purchase long-term care (LTC) insurance policies
• The Legislature has not created a public LTC insurance program
• No payroll tax is being implemented at this time
• There is no enactment date or deadline to buy LTC insurance before a state-imposed deadline
• California law protects consumers from misleading statements by insurers and agents
• Any communication that states that a public LTC program will be enacted on January 1, 2024, or on any other specific date is untrue and a presumed knowing violation of the law.

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