Virginia · 2026 Regular Session · Bill
HB 997: Long-term care insurance; premium rate increases, regulations.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
HB 997 is a bill introduced in the Virginia House on January 14, 2026. According to its official title, it concerns: Long-term care insurance; premium rate increases, regulations. Primary sponsor: Holly Seibold (Democratic). Most recent recorded action (February 12, 2026): Continued to next session in Labor and Commerce (Voice Vote).
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Long-term care insurance; premium rate increases; regulations. Requires regulations promulgated by the State Corporation Commission for long-term care insurance rates to (i) provide a cap on premium rate schedule increases; (ii) require any capped premium rate schedule increase to be spread by the insurer over a period of not less than five years, during which time no further rate schedule increases may be requested; and (iii) prohibit additional premium rate schedule increases after prior cumulative rate schedule increases amount to 250 percent of the original premium. Under the bill, no additional rate increases shall be approved for a long-term care insurance policy that has already reached or surpassed the limit of 250 percent of its original premium. The bill directs the Commission to adopt regulations to implement the provisions of this act, including by establishing a regulatory cap on premium rate schedule increase for long-term care insurance policies that is no more than 30 percent of the maximum amount of premium rate schedule increase permitted under current regulations, as calculated on the request date of the premium rate increase.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Holly Seibold | Primary sponsor | Democratic | House | 12 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Continued to next session in Labor and Commerce (Voice Vote)
- Subcommittee recommends continuing to (Voice Vote)
- Assigned HCL sub: Subcommittee #1
- Referred to Committee on Labor and Commerce
- Prefiled and ordered printed; Offered 01-14-2026 26100506D