Consumers who own long-term care life insurance policies could see reduced premium increases due to inflation under an agreement reached by a House and Senate conference committee Friday.
HF954/SF997* would drop the inflation rider on policies from 3 percent to 1 percent.
Rep. Joe Schomacker (R-Luverne) and Sen. Vicki Jensen (DFL-Owatonna) sponsor the bill, which conferees adopted after amending it to include House and Senate-only provisions. It now moves back to each respective body to consider repassage.