1.1    .................... moves to amend H. F. No. 1892 as follows:
1.2Page 4, line 18, delete "(b)" and insert "(c)"
1.3Page 5, line 29, delete "qualified" and insert "appointed"
1.4Page 6, line 7, delete "qualified" and insert "appointed"
1.5Page 19, after line 12, insert:

1.6    "Sec. 15. Minnesota Statutes 2006, section 62S.23, subdivision 1, is amended to read:
1.7    Subdivision 1. Inflation protection feature. (a) No insurer may offer a long-term
1.8care insurance policy unless the insurer also offers to the policyholder, in addition to any
1.9other inflation protection, the option to purchase a policy that provides for benefit levels to
1.10increase with benefit maximums or reasonable durations which are meaningful to account
1.11for reasonably anticipated increases in the costs of long-term care services covered by
1.12the policy. In addition to other options that may be offered, insurers must offer to each
1.13policyholder, at the time of purchase, the option to purchase a policy with an inflation
1.14protection feature no less favorable than one of the following:
1.15    (1) increases benefit levels annually in a manner so that the increases are
1.16compounded annually at a rate not less than five percent;
1.17    (2) guarantees the insured individual the right to periodically increase benefit levels
1.18without providing evidence of insurability or health status so long as the option for the
1.19previous period has not been declined. The amount of the additional benefit shall be no
1.20less than the difference between the existing policy benefit and that benefit compounded
1.21annually at a rate of at least five percent for the period beginning with the purchase of the
1.22existing benefit and extending until the year in which the offer is made; or
1.23    (3) covers a specified percentage of actual or reasonable charges and does not
1.24include a maximum specified indemnity amount or limit.
1.25    (b) A long-term care partnership policy must provide the inflation protection
1.26described in this subdivision. If the policy is sold to an individual who:
2.1    (1) has not attained age 61 as of the date of purchase, the policy must provide
2.2compound annual inflation protection;
2.3    (2) has attained age 61, but has not attained age 76 as of such date, the policy must
2.4provide some level of inflation protection; and
2.5    (3) has attained the age of 76 as of such date, the policy may, but is not required to,
2.6provide some level of inflation protection."
2.7Page 20, after line 21, insert:

2.9    Sections 5 to 14 and section 18 are effective January 1, 2008, and apply to policies
2.10issued on or after that date."
2.11Renumber the sections in sequence and correct the internal references
2.12Amend the title accordingly