The Ohio Department of Insurance has filed a new rule intended to help facilitate the implementation of an Ohio long-term care partnership program, authorized under the Deficit Reduction Act. In 2005, the Ohio General Assembly approved Ohio’s participation in the Partnership Program and set an implementation deadline of September 1, 2007.
Statutory changes, which were necessary to facilitate the implementation of the Partnership Program, were recently approved by the Ohio Legislature in House Bill 100. Key legislative changes clarified the mandatory inflation protection rate applicable to qualified long-term care partnership program policies and outlined the training requirements for those agents intending to sell partnership program policies.
The Ohio Department of Insurance, working in collaboration with other agencies and interested parties, drafted additional changes to Ohio’s Administrative Code that were required to fully implement the program by the September deadline. The key regulatory changes accomplished by the recently filed rule relate to required notices of exchange, partnership program disclosures and certifications.