CA Commissioner of Insurance Releases Alert
August 23rd, 2023
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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