The Maryland Insurance Administration will conduct a public hearing on a specific rate increase request being made by a Long -Term Care Insurance carrier operating in Maryland. The hearing will focus on individual long-term care requests from Berkshire Life Insurance Company of America and Allianz Life Insurance Company of North America. The purpose of the hearing is for insurance company officials to explain the reasons for the rate increase, to explain the new benefit options and for the MIA to consider whether the proposed rate increase is in compliance with Maryland's laws and regulations relating to long term care insurance. Interested stakeholders will also have the opportunity to provide comments at the hearing. Prior to the hearing, copies of the actuarial memorandum will be posted to the Maryland Insurance Administration's website.
Form numbers impacted by the rate request are outlined below:
Berkshire Life Insurance Company of America: BG01P(06/04)-MD, BG01P(01/09)-MD
Allianz Life Insurance Company of North America: 8-P-Q-MD, 8-P-F-Q-MD
Given the current COVID-19 situation, to protect the public health, safety, and welfare, the hearing will be held via Zoom.
The hearing will be held:
Tuesday, August 16, 2022
1:00 P.M. to 4:00 P.M.
AGENDA
View video of hearing HERE
Dial-in Information:
https://www.zoomgov.com/j/1616609702
Dial-in: (669) 254 5252
Webinar ID: 160 660 9702
Information for the Maryland Relay Service can be found at doit.maryland.gov/mdrelay
If you wish to provide oral testimony, please RSVP to Nancy Muehlberger. Testimony will only be heard from those who have RSVP'd in advance of the public hearing. Interested parties are also encouraged to submit written comments in advance of the hearing date. Written comments and RSVPs should be sent to Nancy Muehlberger by August 9, 2022, either by email to longtermcare.mia@maryland.gov or by mail to 200 St. Paul Place, Suite 2700, Baltimore, MD 21202 or by fax to 410-468-2038.
Questions regarding this hearing should be directed to Nancy Muehlberger by phone to 410-468-2050, or by e-mail to nancy.muehlberger@maryland.gov.
Complaints regarding individual policy premium rates, premium increases or particular policy provisions should be directed to the Consumer Complaints Unit. Please call 410-468-2244 or visit the following website for more information on how to file a complaint: http://insurance.maryland.gov/Consumer/pages/FileAComplaint.aspx.
