Long-Term Care Insurance


Pursuant to House Bill 493, which became effective during the 2017 legislative session, long-term care insurers are required to provide a one-time notice to their insureds advising that information about long-term care rate requests may be found on this web page. Receiving this notice does not necessarily imply that your long-term care insurance company is requesting a rate increase at this time. To determine if your long-term care insurance company is requesting an increase, please look under the "Long-Term Care Hearing Information" and the "Long-Term Care Rate Information" tabs below. To be notified of future rate hearings, rate approvals or any other changes made to this web page, please click "Subscribe to this page" next to the red envelope. 

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Long-Term Care Hearing Information

 
​​​Pursuant to Section 11-703(d) of Maryland's Insurance Article, the Maryland Insurance Administration is required to hold rate hearings, at least quarterly, to review long-term care insurance rate filings received by the Commissioner duing the preceding 3-month period. However, a hearing is not required if the Commissioner has not received a long-term care insurance rate filing during the preceding 3-month period.

Actuarial Memoranda

Long-Term Care Approved Rates for 2024

 

Transamerica Life Insurance Company

 

Policy Forms: ICC10 TLC-3 (SERFF:  AEGB-133638695)

 

Approve two annual increases of 15% in year one and 7% in year two for a cumulative increase of 23.05% on all policies.

 

The Company originally requested a 101.1% increase for all policies. 

 

Approved 2/26/2024 

Proposed Effective Date: The increase will be implemented following approval after fulfillment of all statutory and contractual requirements, but not before a period of one year has elapsed since the effective date of the previously approved rate increase"


Transamerica Life Insurance Company

 

Policy Forms: ICC10 TLC-3 (SERFF: AEGB-133716344)

 

Approve two annual increases of 15% in year one and 7% in year two for a cumulative increase of 23.05% on all policies.

 

The Company originally requested a 23.12% increase for all policies. 

 

Approved 2/27/2024 

Proposed Effective Date: The increase will be implemented following approval after fulfillment of all statutory and contractual requirements."


​​Allianz Life Insurance Company of North America

Policy Forms: 11-P-Q-MD (SERFF: ALLB-133666920)

Approved the following:

  1. 15% increase on policies with 2 - 4 years benefit period.
  2. 15% increase on policies with 5 - 8 years benefit period.
  3. Two annual increases of 14% (Year 1) and 14% (Year 2), for a cumulative increase of 30% on policies with a lifetime benefit period.

The Company originally requested the following:
  1. 15% increase on policies with 2 - 4 years benefit period.
  2. 15% increase on policies with 5 - 8 years benefit period.
  3. 30% increase on policies with a lifetime benefit period.
Approved 2/16/2024
Proposed Effective Date: The increase would be effective on a policy’s next anniversary following a 60-day policyholder notification period.

Publications and Useful Information

 
​Consumer Resources 
 
Insurance Laws addressing Long-Term Care Insurance 

Insurance Regulations addressing Long-Term Care Insurance

Proposed Regulations addressing Long-Term Care Insurance
  • Title 31 Maryland Insurance Administration
    Subtitle 14 Long-Term Care
    31.14 Long-Term Care Insurance
    View the proposed regulation as it appeared in the Maryland Register December 23, 2016. Comments close January 23, 2017.

Videos

  • Myths and facts about long-term care: Video 

MIA Long-Term Care Workgroup

 
 
House Bill 953 - Task Force on Long-Term Care Education and Planning
 
 
 
Commissioner Al Redmer, Jr. has convened an internal workgroup (the “Workgroup”) on Long-Term Care Insurance (“LTC”) to study the issues associated with the current state of the LTC marketplace in Maryland. Approximately 150,000 Marylanders are covered by long-term care insurance policies. “We’ve heard from long-term care insurance policyholders and carriers that there are issues associated with this specific type of insurance product. As the regulator, we’ve tasked a team of regulatory staff members to examine the issues, to hear from key legislators and stakeholders, and to make recommendations to address the most pressing concerns,” said Commissioner Redmer. “We know that this is a national issue so we will be looking at policy research already done in this area by the National Association of Insurance Commissioners as part of our process.”

The Workgroup will be co-chaired by Catherine Grason, Chief of Staff and Adam Zimmerman, Actuarial Analyst, and will include: Jeff Ji (Senior  Actuary),  Joy Hatchette (Associate Commissioner, Consumer Education and Advocacy), Nancy Egan (Director of Producer Outreach),Tracy Imm (Director of Public Affairs), Michael Paddy (Government Relations Associate) and Jamie St. Clair (Health Insurance Analyst). The Workgroup has invited the following parties to present their views:  
•Senator Adelaide Eckardt
•Delegate Ben Kramer
•Lorie Mayorga, Deputy Director Medicaid Eligibility Policy, Maryland Department of Health and Mental Hygiene (DHMH)
•Beth Sammis, Consumer Health First
•Melissa Barnickel, Principal Baygroup Insurance, LLC, Maryland LTCi Roundtable, National Association of Health Underwriters (NAHU) LTCi Advisory Group
•Sally Leimbach, Maryland LTCI Roundtable, Joint Legislative Committee of Maryland Association of Health Underwriters (MAHU) and The National Association of Insurance and Financial Advisors of Maryland (NAIFA-MD)
•Jeff Merwin, Director of LTC Brokerage, Capitol Metro Financial Services, Inc.
•Amanda Matthiesen, Executive Director, Product Policy, America’s health Insurance Plans (AHIP)
•Susan Coronel, Executive Director, Product Policy, America’s Health Insurance Plans (AHIP)
•Bill Weller, Consulting Actuary, America’s Health Insurance Plans (AHIP)
•Rod Perkins, Vice-President, Government Relations, The American Council of Life Insurers (ACLI)

Members of the public are welcome to listen to these meetings via conference-call.  The meeting dates and topics will be as follows:
 
DATE: Thursday, August 24, 2017 10 a.m.-12 p.m.
CALL IN NUMBER: (866) 247-6034
CONFERENCE CODE: 1573490062
TOPIC: Update on policy changes being considered by the Maryland Insurance Administration as a result of the information gathered during last year's workgroup meetings.
 
DATE: Tuesday, December 20, 2016 11 a.m.-12 p.m.
CALL IN NUMBER: (866) 247-6034
CONFERENCE CODE: 1573490062
TOPIC: Possible Legislation
AGENDA
•Tax Credits - Establish thresholds for tax credits based on age of policyholders and/or number of years paying premium.
•Other ideas​

DATE: Monday, December 5, 2016 11 a.m.-12 p.m.
CALL IN NUMBER: (866) 247-6034
CONFERENCE CODE: 1573490062
TOPIC: Communications and Education
AGENDA AND MATERIALS
•Discuss ways to improve communication between the LTC Carriers and their policyholders.
•What information would be needed from carriers to better understand the nature of the market in Maryland and how to obtain in? I.E. age of policyholder and spouse.
 
DATE: Monday, November 21, 2016 11 a.m.-12 p.m.
CALL IN NUMBER: (866) 247-6034
CONFERENCE CODE: 1573490062
TOPIC: 15% Cap on Rate Increases
AGENDA AND MATERIALS
•Review pros and cons of maintaining cap on rate increases.
•Review other workarounds associated with rate caps.

DATE: Monday, November 7, 2016 11 a.m.-12 p.m.
CALL IN NUMBER: (866) 247-6034
CONFERENCE CODE: 1573490062
TOPIC: Ways to establish more transparency for LTC consumers during the rate review process.
AGENDA
•Should the MIA post a company's actuarial memorandum and a summary document to its website upon a rate increase request? The MIA will discuss the merits of doing so and the potential format for such documents based upon Pennsylvania's model. A draft will be circulated and posted.
•LTC Rate Request Hearings
•Producer Notification of Rate Filings

Frequently Asked Questions

 
​ 
Long-Term Care Insurance: Frequently Asked Questions

 

To learn more: Visit www.longtermcare.gov.
 
Click Here for Printer Friendly Version

Questions About Long-Term Care
 
1) What is long-term care?
A: Individuals with a prolonged illness, disability or cognitive condition (for example, Alzheimer’s disease) often need help with daily activities (such as dressing, bathing, and eating), as well as needing skilled medical attention. Long-term care services may include care management, rehabilitation services, adult day care, or hospice. These long-term care services may be delivered in an assisted living facility, at home or in a nursing home.
 
2) How much will long-term care cost me?
A: The cost of long-term care depends on a number of factors, including the type of care you receive, where you receive this care, who provides this care and how long you need to receive this care. According to data available from the U.S. Department of Health and Human Services, the national average costs for long-term care services in 2016 were:
• $225/day or $6,844/month for a semi-private room in a nursing home
• $253/day or $7,698/month for a private room in a nursing home
• $119/day or $3,628/month for care in an assisted living facility (for a one-bedroom unit)
• $20.50/hour for a health aide
• $20/hour for  homemaker services
• $68/day for care in an adult day health care center
Source: https://longtermcare.acl.gov/costs-how-to-pay/costs-of-care.html

3) What can I do to pay for my long-term care?
A:  Paying for long-term care does not need to be overwhelming. Several options are available to make paying for long-term care more manageable. Some of the options include:
1. You may choose to fund the costs of your long-term care through investments you have made, such as an annuity. For more information about annuities, see the Maryland Insurance Administration’s publication, A Consumer Guide to Annuities, available online:
https://insurance.maryland.gov/Consumer/Documents/publications/consumerguidetoannuities.pdf
2. You may decide to sell certain assets, such as your home or other real estate.
3. You may decide to obtain a reverse mortgage.  See: www.longtermcare.gov/costs-how-to-pay/paying-privately/reverse-mortgages/.
4. You may be able to use your life insurance policy to pay for your long-term care by using one of the following methods:
a. Combination life/long-term care insurance policies.
b. Accelerated death benefits from a life insurance policy.
c. Life settlement.
d. Viatical settlement.
5. You could purchase a long-term care insurance policy. Find out more at: www.naic.org/documents/prod_serv_consumer_ltc_lp.pdf
6. You may buy a long-term care insurance partnership policy. Find out more at: http://insurance.maryland.gov/Consumer/Documents/publications/longtermcare.pdf

4) Will Medicare pay for my long-term care?
A: If you are eligible for Medicare, Medicare may provide limited coverage for skilled nursing and rehabilitation services in an approved facility.  But, Medicare does not cover custodial care services, intermediate care or services for a prolonged period of time. For more information about Medicare, visit the Center for Medicare and Medicaid web site, www.cms.gov/home/medicare.asp
 
5) Will my Medicare supplemental policy pay for my long-term care?
A: If you have a Medicare supplemental policy, keep in mind that while some supplemental policies provide a limited benefit to help pay for at-home recovery on a short-term basis, not all Medicare supplemental policies cover this expense.  Also, while some Medicare supplemental policies provide a limited benefit while you are in a skilled nursing facility, the benefit only will be payable for the 20th through the 100th day of skilled nursing care in a nursing home. Under such a policy, you would not receive any benefits if you are receiving custodial or intermediate care, or if you need care after the 100th day of confinement.  It is important that you carefully review and understand the terms of your Medicare supplemental policy, what it covers, and how much it pays.
 
6) Will Medicaid pay for my long-term care?
A: Maryland’s Medical Assistance Program (Medicaid) provides coverage for some long-term care services, but this program is only available if you satisfy certain eligibility requirements. You may be eligible for Medicaid depending upon your income, available assets and/or health status. For more information about the eligibility rules for Maryland’s Medical Assistance Program, visit the Department of Health and Mental Hygiene’s website, http://mmcp.dhmh.maryland.gov. The link for Medical Care Program Eligibility explains the eligibility requirements. The link for Long-Term Care gives an overview of which long-term care services are covered.

7) What does long-term care insurance pay for?
A: Long-term insurance policies,  long-term care insurance riders to life insurance policies and annuity contracts provide coverage for certain long-term care expenses that usually are not covered by traditional health insurance and HMO contracts, Medicare, or Medicare supplemental policies. Coverage is provided when you are unable to do a certain number of activities of daily living (such as bathing, eating, or dressing yourself) or are cognitively impaired. While the exact terms and conditions of coverage depend upon your individual policy, long-term care insurance generally covers services such as nursing home stays for custodial, intermediate and skilled nursing care. These policies also may cover home health care and adult day care. Long-term care insurance can be purchased as a separate stand-alone policy or as a rider to a life insurance policy or annuity contract. For more information on long-term care insurance, see A Shopper’s Guide to Long-Term Care Insurance, produced by the National Association of Insurance Commissioners at: www.naic.org/documents/prod_serv_consumer_ltc_lp.pdf.
 
8) Should I buy long-term care insurance or a long-term care insurance rider to my life insurance policy or annuity contract?
A: Long-term care insurance is not for everyone. Before buying a long-term care insurance policy or a rider to your life insurance policy or annuity contract, it is important to understand what the policy or contract covers, know the limits of the policy or contract and understand any conditions the policy or contract may exclude. It is also important to make sure you can afford the premium payments.

It is also a good idea to consult with a tax advisor, as well as an insurance advisor, when deciding whether a long-term care insurance policy is right for you.  You may be eligible for federal and state tax benefits. Maryland law provides for a one-time tax credit of up to $500 after you purchase a long-term care insurance policy. In addition, federal law provides tax advantages if you purchase a qualified long-term care insurance plan.
 
9) What questions should I ask before buying long-term care insurance or a long-term care insurance rider to my life insurance policy or annuity contract?
A:  Before making a decision to buy a long-term care insurance policy or a long-term care insurance rider to your life insurance policy or annuity contract, you should consider asking:
 
• What type of care is covered?
• Is there a waiting period before I can start using the benefits?
• What happens if I am late paying the premium?
• Is there a maximum number of days the policy or contract covers?
• Does the policy or contract have a per-day limit? If so, does it take inflation into account?
• What are the rules about pre-existing conditions?
• What must happen in order for me to receive benefits under the policy or contract, i.e. doctor’s certification, unable to perform daily activity?
• Has the insurer received approval to sell long-term care insurance in Maryland?
 
10) What is the Maryland Long-Term Care Insurance Partnership Program?
A: The Maryland Long-Term Care Insurance Partnership Program is an innovative partnership between Maryland and private insurance companies that issue long-term care insurance policies. A policy sold under the Long-Term Care Insurance Partnership Program, by law, must meet the same standards as a long-term care policy not sold under the program. In addition, a partnership policy must meet certain specific federal and state requirements, and be certified as a “long-term care partnership policy” by the Commissioner of the Maryland Insurance Administration (MIA).  Partnership policies provide an additional level of protection, when compared to regular long-term care insurance policies. In particular, Partnership policies permit you to protect additional assets from spend-down requirements under Maryland’s Medicaid program if you should need assistance under this program, and you qualify.  For more information on the Maryland Long-Term Care Insurance Partnership, go to www.insurance.maryland.gov/Consumer/Documents/publications/longtermcare.pdf.
 
11) Where can I find the Maryland regulations about long-term care insurance?
A: Long-term care insurance regulations are found in the Code of Maryland Regulations (COMAR) section 31.14 Long-Term Care Insurance.   COMAR 31.14.01 relates in general to long-term care insurance.  COMAR 31.14.02 relates to long-term care insurance premium rates and reserves.  COMAR 31.14.03 relates to long-term care partnership policies.
 
12) Why are long- term care insurance premiums increasing?
A: When long-term care insurance policies were initially introduced across the country in the late 1970’s and early 1980’s, they were the first of their kind.  Insurance companies had no prior data from which to draw assumptions and make predictions about how the insurance market would behave 30 to 40 years into the future.  Unfortunately, many of these assumptions and predictions were inaccurate and resulted in companies being unable to price the long-term care insurance products appropriately.  As a result, long-term care insurers are raising premiums, to ensure that they will be sufficient to pay future claims.  Some original incorrect pricing assumptions and predictions included:
• Higher than anticipated persistency: Fewer policyholders have allowed their policies to lapse than originally anticipated.
• Policyholders are living longer than originally assumed, resulting in a higher rate of utilization of long-term care benefits. Additionally, the length of time a policyholder utilizes long-term care benefits is much longer than originally assumed.
• Long-term care insurers’ investment return rates are significantly lower than originally assumed.

13) What factors do insurance companies consider to determine the premium rates?
A: When insurance companies initially develop rates for long-term care insurance premiums, the main actuarial assumptions taken into account include lapse assumptions, mortality assumptions, morbidity assumptions and interest rate assumptions.  Additionally, an insurance company may offer you discounts when you are initially purchasing a long-term care insurance policy, for being a very healthy applicant (i.e. passing more rigorous underwriting criteria), being married, or living with someone.  Finally, long-term care insurance is generally offered on an issue-age basis, meaning the younger you are when you buy the policy, the lower the insurance premium.

14) Is there a maximum allowed annual premium increase for my long-term care insurance?
A:  Yes.  COMAR 31.14.01.04(A)(5) provides that except under certain exceptional circumstances, a long-term care insurer cannot raise your premium by more than 15% in a 12-month period.  Furthermore, COMAR 31.14.02.06(B)(2)(d) states that, except under limited circumstances, your renewal premium rate cannot be greater than new business premium rates, except for differences attributable to benefits.

15) Do I have any options other than accepting the premium rate increase?
A: Yes.  If you would not like to accept the full premium rate increase, COMAR 31.14.01.36 requires every long-term care insurance policy and certificate to include a provision allowing the policyholder to reduce coverage and lower the policy premium in at least one of the following ways:
• Reducing the maximum benefit; or
• Reducing the daily, weekly, or monthly benefit amount.
Additionally, a long-term care insurer may voluntarily offer you other ways to reduce the impact of a premium rate increase by including options in the policy to lower the inflation protection rate, or by providing an option to reduce the inflation protection from compound to simple inflation. Before you make any decision involving reduction of benefits, you should understand the long term impact of doing so.
 
16) What does the MIA do when it receives a request from an insurance company to change its long-term care insurance premium rates?
A: The process to file a premium rate change request is as follows:
1. All insurance carriers doing business in Maryland’s individual and group long-term care insurance market must submit premium rate change requests to the MIA through the System for Electronic Rate and Form Filing (SERFF).
2. After an MIA analyst confirms that all required documents have been submitted, the filing is assigned to an initial reviewer.  For a detailed description of the initial review process, see the MIA’s power point entitled, “Long-Term Care Insurance Rate Review Process-Maryland” (October 27, 2016), available online: http://insurance.maryland.gov/Consumer/Documents/agencyhearings/Long-Term-Care-Insurance-Rate-Review-Process.pdf.
3. After completing an initial review, the initial reviewer provides a rate review summary form to all other MIA actuarial staff for peer review.
4. A public hearing is conducted for every rate increase filing received by the MIA. The hearing serves as a means for MIA staff, the long-term care insurer that has requested the premium rate change, and consumers to discuss the rate filing, and for the long-term care insurer to respond to questions from the MIA staff regarding the rate increase request.
5. After considering the information provided in the hearing, and any additional public comments, the Insurance Commissioner makes a final decision to approve or disapprove the premium rate increase request.

Other Questions

17) Can my long-term care insurer cancel my policy because of my age or health conditions?
A:  No.  Under COMAR 31.14.01.04F (1), a long-term care insurance policy can only be terminated by the insurer in three instances:  (1) nonpayment of premiums by the insured; (2) material misrepresentation in the application (within the contestable period); or (3) fraud in the application.

18) Following a long-term care premium rate change public hearing, will the MIA make the minutes of the hearing available to the public?
A: Yes.  Within a few weeks after a long-term care insurance premium rate change public hearing, public transcripts, as well as any comments received by the MIA will be published on the MIA’s website. Additionally, a video of the hearing is published on the MIA’s Facebook page, and can be viewed at any time after the hearing has occurred.
 
19) Will the MIA issue a ruling on allowing the proposed sale of Genworth Financial, Inc. to China Oceanwide Holdings Group? What is the status of the merger?
A: No. As announced by Genworth on April 6, 2021, Genworth has exercised its right to terminate the merger agreement with China Oceanwide Holdings Group. Further, Genworth Financial Inc. is not domiciled in Maryland; any rulings on proposed sales would be made by the state(s) in which Genworth Financial, Inc. companies are domiciled.

20) Will an actuarial memorandum corresponding to a proposed long-term care insurance premium rate change be published on the MIA’s website?
A:  Yes.  Insurers that file a premium rate change request for a long-term care insurance product must also file an actuarial memorandum corresponding to each request.  The actuarial memorandum will be published on the MIA’s website.  Insurers will have an opportunity to submit a redacted copy of the actuarial memorandum, omitting any material the insurer contends is confidential, subject to the determination of the Commissioner, in accordance with the Maryland Public Information Act.  See Md. Code Ann., Gen. Pro. Art. § 4-335.

21) May I file a complaint against my LTC insurance company related to benefit coverages, rate increases, etc.?
A:  Yes. The primary role of the MIA is to protect consumers from illegal insurance practices by ensuring that insurance companies and producers that operate in Maryland act in accordance with State insurance laws. We are here to assist you with your insurance inquiry or complaint about LTC insurance.  Information about how to file a complaint may be found at: https://insurance.maryland.gov/consumer/pages/fileacomplaint.aspx

22) I purchased an LTC policy issued through the Federal Long-Term Care Insurance Program (FLTCIP).  Will the MIA be able to answer questions I may have about my policy?
A:  No. The MIA does not have regulatory jurisdiction over policies issued through the FLTCIP.  Should you have a question about an LTC policy issued through the FLTCIP, contact information may be found at the following link: https://www.ltcfeds.com/contact/phoneinfo.html

As of April 7, 2021 ​

Companies Approved to Sell Long-Term Care Insurance

Penn Treaty Liquidation FAQ

  ​Click HERE to learn more about the Penn Treaty Liquidation.

Long-Term Care Approved Rates for 2023

 
  1. ​The Prudential Insurance Company of America
Group Policy Form 83500 BFW 5018 (Product Name: GLTC3  ); (SERFF No.PRUD-133537691)

Approved the following:

1)   No increase for policies with No inflation.
2)   21% rate increase, phased in at 10% annually for 2 years, for policies with GPO
3)   21% rate increase, phased in at 10% annually for 2 years, for policies with Auto Inflation

The Company originally requested the following:

1)   33.3 % rate increase for policies with No inflation.
2)   20.9%  rate increase for policies with GPO
3)   20.9% rate increase for policies with Auto Inflation

Approved 10/17/23
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60-day notification to the certficate holder.

Individual Policy Forms GRP 99507, GRP 99508, and GRP 99509 (Product Name: ILTC1); (SERFF No. PRUD-133495069)

Approved the following:

1)   No increase for policies with No inflation and benefit periods of less than 10 years.
2)   52.1% rate increase, phased in at 15% annually for 3 years for policies with Auto inflation and lifetime or 10 year benefit period
3)   52.1%  rate increase, phased in at 15% annually for 3 years for policies with Auto inflation and benefit periods of less than 10 year
4)   52.1%  rate increase, phased in at 15% annually for 3 years for policies with No Inflation and lifetime or 10 year benefit period

The Company originally requested the following:

1)   43.1% rate increase for policies with No inflation and benefit periods of less than                  10 years.
2)  159.9% rate increase for policies with Auto inflation and lifetime or 10 year benefit period   
3)   63.9%  rate increase for policies with Auto inflation and benefit periods of less than 10 year
4)   137.8% rate increase for policies with No Inflation and lifetime of 10 year benefit period

Approved 10/17/23
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60-day notification to the policyholder.

Individual Policy Form GRP 112608 (Product Name: ILTC2 ); (SERFF No. PRUD-133537678 )

Approved the following:

1)   No increase for policies with No inflation and benefit periods of less than 10 years.
2)   32.25% rate increase, phased in at 15% annually for 2 years for policies with No Inflation and lifetime or 10 year benefit period
3)   32.25% rate increase, phased in at 15% annually for 2 years for  policies with Auto inflation and lifetime or 10 year benefit period
4)   32.25% rate increase, phased in at 15% annually for 2 years for policies with Auto inflation and benefit periods of less than 10 year

The Company originally requested the following:

1)   21.8% rate increase for policies with No inflation and benefit periods of less than                  10 years 
2)   94.6% rate increase for policies with No Inflation and lifetime or 10 year benefit period
3)   126.1% rate increase for  policies with Auto inflation and lifetime or 10 year benefit period
4)   39.9% rate increase for policies with Auto inflation and benefit periods of less than 10 year

Approved 10/17/23
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60-day notification to the policyholder.

Individual Policy Form 83500 GR 1067 (Product Name:GLTC2 ); (SERFF No. PRUD-133537668)

Approved: 10% increase for all policies

The Company originally requested: 44.7% for all policies

Approved 10/17/23
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60-day notification to the certificate holder.

​Individual Policy Form   GRP 113252 and GRP 113252 ED 05/2010 (Product Name: ILTC3) (SERFF No. PRUD-133537664)

Approved the following:

1) A 32.3% rate increase, phased-in at 15% annually for two years, for policies with no inflation and a lifetime or ten year benefit period.
2) A 10% increase for policies with no inflation and a benefit period of less than ten years.
3) A 32.3% rate increase, phased-in at 15% annually for two years, for policies with inflation and a lifetime or ten year benefit period.
4) A 10% rate increase for policies with inflation and a benefit period of less than ten years.

The Company originally requested the following:

1) A 65% rate increase for policies with no inflation and a lifetime or ten year benefit period.
2) A 10% increase for policies with no inflation and a benefit period of less than ten years.
3) A 101.6% rate increase for policies with inflation and a lifetime or ten year benefit period.
4)  A 59.2% rate increase for policies with inflation and a benefit period of less than ten years.

Approved 9/25/23
​Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60-day notification to the policy holder.
  1. The Prudential Insurance Company of America

    Individual Policy Form GRP 113252REV (Product Name:  ILTC3R)(SERFF No.  PRUD-133537665) 

Approved the following:

 

1) A 32.3% rate increase, phased-in at 15% annually for two years, for policies with simple inflation.

2) A 32.3% rate increase, phased-in at 15% annually for two years, for policies with compound inflation and a lifetime or ten-year benefit period.

3) A 20.2% rate increase, phased-in at 15% in year one and 4.5% in year two, for policies with compound inflation and a benefit period of less than ten years.

 

The Company originally requested the following:

 

1) A 55.0% rate increase for policies with simple inflation.

2) A 55.0% rate increase for policies with compound inflation and a lifetime or ten year benefit period.

3) A 40.9% rate increase for policies with compound inflation and a benefit period of less than ten years. 

 

Approved 9/25/23

Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60-day notification to the policy holder.​

  1. Genworth Life Insurance Company
Group Policy Forms 7050CRT AARP,  approve three annual increases of 15%, for a cumulative increase of 52.1%.  (SERFF No.  GEFA-133486424)

The Company originally requested a 176% rate increase.

Approved 9/20/23
​Proposed Effective Date: The increase will be implemented on policy's billing anniversary date, following a minimum of 60-day certificate holder notification period.
  1. The Prudential Insurance Company of America
Group Policy Form 83500 COV 5030 (Product Name: GLTC4); approved 4.8% increase for policies with Automatic Inflation Protection or Guaranteed Purchase Option. No increase for policies with No Inflation Protection. (SERFF No. PRUD-133537693)

Company originally requested increases as follows:
    • 4.8% for policies with  Automatic Inflation Protection or Guaranteed Purchase Option
    • 10% for policies with no inflation protection

Approved 8/31/23
​Proposed Effective Date: The increase will be implemented following state approval and a minimum of a 60-day notification to the certificate holder.

  1. Genworth Life Insurance Company
Individual Policy Forms 7052MD (Flex 1); For policies with high inflation/BIO, two annual increases of 15%, for a cumulative increase of 32.3%.  (SERFF No. GEFA-133431957)

Company originally requested increases as follows:
    • 188% for policies with lifetime benefits and high BIO
    • 132% for policies with limited benefits and high BIO
*High BIO does not include policies without BIO or 1% BIO

​Approved 8/31/23
Proposed Effective Date: The increase will be implemented on policy's billing anniversary date, following a 60-day policyholder notification period.

  1. Genworth Life Insurance Company
Individual Policy Forms 7042MD, 7044MD, 7042MD Rev. 7044MD Rev. (Choice 2 & 2.1); 15% increase for policies with high inflation/BIO option. (SERFF No. GEFA-133432074)

Company originally requested increases as follows:
117% for policies with lifetime benefits and low BIO
233% for policies with lifetime benefits and high BIO
132% for policies with limited benefits and high BIO
* Low BIO includes policies without BIO and 1% BIO. High BIO includes all other BIO options.

Approved 8/31/23
Proposed Effective Date: The requested rate increase will apply to policies on their billing anniversary date, following a 60-day policyholder notification period.
  1. Transamerica Life Insurance Company
Individual Policy Forms TLC 1-FP (MD) 402, TOL 1-FP (MD) 402, LI 1-FP (MD) 402, and  MLC 1-FP (MD) 402; approve 2 annual increases of 15%  for a cumulative increase of 32.25%.  (SERFF No. AEGB-133537503)

Company originally requested an annual increase of 156.48%.

Approved 7/11/23
Proposed Effective Date:  The increase will be implemented following approval and after fulfillment of all statutory and contractual requirements, but not before a period of one year has elapsed since the previously approved rate increase effective date if applicable. 

  1. Knights of Columbus

    Individual Policy Form LTC01 and NHC01; approve three annual increases of 11.2% in year one, 11% in year two and 11% in year three for a cumulative increase of 37%. (SERFF No. TRIP-133528285)

    The company originally requested an annual increase of 37%.

    ​Approved 6/30/2023
    Proposed Effective Date: The increase will become effectivew as of the next policy anniversary date for each affected policy following the 95 days notification period in advance befre implementing the rate increase.
  1. ​LifeSecure Inurance Company

Policy Form LS-0002, et al (SERFF #LFSC #LFSC-133407502): 15.0% for all policyholders.

​The company originally requested a 15.0% rate increase for all policyholders.

Approved 2/21/2023
Proposed Effective Date: The rate increase will applky upon approval following an appropriate policyholder notification period.​​​


Long-Term Care Approved Rates for 2022

 
​​
  1. Allianz Life Insurance Company of North America:

 

​Policy Forms: 8-P-Q-MD, 8-P-F-Q-MD; approve three annual increases of 15%(Year1), 15%(Year2), and 15% (Year3) for a cumulative increase of 52.1% for policies with 5 years of benefit period, and one annual increase of 15% for policies with 2-3 years of benefit period.  The revised premiums will be guaranteed for 5 years from the start of implementation. (SERFF: ALLB-133322028).

 

The Company originally requested an average increase of 55%  for policies with 5 years of benefit period, and 20% for policies with 2-3 years of benefit period, with a four years rate guarantee from the start of implementation. 

 

Approved 11/14/2022 

Proposed Effective Date: Effective on a policy’s next anniversary following the implementation date and policyholders will be notified at least 60 days prior to the effective date of their increase

  1. Continental Casualty Company:

 

Policy Forms: SR-LTCP et al; approve three annual increases of 15%(Year1), 15%(Year2), and 15%(Year3) for a cumulative increase of 52.1% on policies with inflation protection, and one annual increase of 15% on policies with no inflation protection excluding policies with 2-year benefit periods. (SERFF: LTCG-133077527)

 

The Company originally requested an increase of 273.2% on policies with inflation protection, and 83.1% on all policies without inflation protection.


Approved 9/8/2022 

Proposed Effective Date: on next premium due date following a notification period at least as long as required by Maryland requirement following approval.

  1. Transamerica Life Insurance Company:
Policy Forms: ML-LTCP TQ (MD) 197, ML-LTCP TQ (MD) 600, FTQ (MD) 197, LTC 5 TQ (MD) 900; approve four annual increases of 15% (Year1), 15% (Year2), 15% (Year3), and 15% (Year4) for a cumulative increase of 74.9% for policies with inflation protection or lifetime benefit period, and one annual increase of 5% for other policies. (SERFF: AEGB-133137588)
The Company originally requested a rate increase of 125% for all policies.
Approved 9/1/2022
Proposed Effective Date: following approval and after fulfillment of all statutory and contractual requirements.

  1. Continental Casualty Company

    Policy Forms: P1-21295-A19, P1-21300-A19, P1-21305-A19, P1-22435-A19, P1-22436-A19, P1-N0022-A19, P1-N0023-A19, P1-N0026-A19, P1-N0027-A19, P1-N0030-A19, P1-N0034-A19: (SERFF: CNAB-133070294)

    Approve three annual increases of 15%(Year1), 15%(Year2), and 15% (Year3) for a cumulative amount of 52.1% on policies with automatic increase benefit (AIB) rider and unlimited lifetime max benefits.

    Approve one annual increase of 15% for policies with AIB rider and non-lifetime max benefits.

    Approve one annual increase of 15% for policies with unlimited max benefits and without AIB rider.

    The Company originally requested increases as 60% for policies with AIB rider and unlimited lifetime max benefits, 35% for policies with AIB rider and non-lifetime max benefits, and 35% for policies with unlimited max benefits and without AIB rider.
Approved 7/8/2022
Proposed Effective Date: On next premium due date following a notification period at least as long as required by the state following approval.

​Policy Forms:  P1-15203-A19 and P1-16356-A19: (SERFF: CNAB-133066636)

Approve three annual increases of 15%(Year1), 15%(Year2), and 15% (Year3) for a cumulative amount of 52.1% on policies with AIB rider and unlimited lifetime max benefits.

The Company originally requested an increase of 68.5% on policies with  AIB rider  and unlimited lifetime max benefits.

​Approved 7/8/2022
Proposed Effective Date: On next premium due date following a notification period at least as long as required by the state following approval.

​Policy Forms: P1-18876-A19, P1-18878-A19: (SERFF: CNAB-133066636)

Approve three annual increases of 15%(Year1), 15%(Year2), and 15% (Year3) for a cumulative amount of 52.1% on policies with AIB rider and unlimited lifetime max benefits.

Approve one annual increase of 15% for policies with AIB rider and non-lifetime max benefits.

The Company originally requested  increases as  71% on policies with  AIB rider and unlimited lifetime max benefits, and 15.9% on policies with  AIB rider  and non-lifetime max benefits.

​Approved 7/8/2022
Proposed Effective Date: On next premium due date following a notification period at least as long as required by the state following approval.
  1. John Alden Life Insurance Company:

    Policy Forms: J-5762-P-MD, J-5875-P-MD, J-5875-P-MD (Q), and J-5875-P-MD (NQ); approve three annual increases in the amounts of 15% (Year1), 15% (Year2),  and 15% (Year3) for a cumulative amount of 52.1%. These increases will be for all policies except for those with No COLA or Limited NH Benefit Period. (SERFF: LFCR-133092416)

The Company originally requested three annual increases in the amounts of 20% (Year1), 20% (Year2), and 20%(Year3) for a cumulative amount of 72.8% for all policies.

Approved 5/12/2022 
Proposed Effective Date: The rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period after approval.
  1. United of Omaha Life Insurance Company:

    Policy Forms: LTC06UI; approve two annual increases in the average amounts of 14.9% (Year1) and 14.1% (Year2) for a cumulative average of 31.1%: (SERFF: MUTA-133016004)

    The Company originally requested three annual increases in the average amounts of 34.9% (Year1), 30.0% (Year2), and 24.7% (Year3) for a cumulative average of 118.6%. 
Approved 4/2/2022
Proposed Effective Date: 9/1/2022.

Policy Forms: LTC09U; approve two annual increases in the average amounts of 14.6% (Year1) and 13.0% (Year2) for a cumulative average of 29.5%: (SERFF: MUTA-133015564)

The Company originally requested three annual increases in the average amounts of 29.8% (Year1), 20.3% (Year2), 22.5% (Year3 ) for a cumulative average of 91.7%.

Approved 4/27/2022 
Proposed Effective Date: 9/1/2022.
  1. Mutual of Omaha Insurance Company:
Policy Forms: LTC09M; approve two annual increases in the average amounts of 14.3% (Year1) and 11.4% (Year2) for a cumulative average of 27.3% : (SERFF: MUTA-133015562)

The Company originally requested three annual increases in the average amounts of 28.7% (Year1), 15.3% (Year2), and 20.8% (Year3) for a cumulative average of 79.6%.

Approved 4/27/2022 
Proposed Effective Date: 9/1/2022.

Policy Forms: LTC04I7; approve two annual increases in the average amounts of 14.9% (Year1) and 14.1% (Year2) for a cumulative average of 31.1%: (SERFF: MUTA-133015481)

The Company originally requested four annual increases in the average amounts of 32.9% (Year1), 13.7% (Year2), 28.2% (Year3), and 11.3% (Year4) for a cumulative average of 117%.

Approved 4/27/2022 
Proposed Effective Date: 9/1/2022.

Policy Forms: LTC04I; approve two annual increases in the average amounts of 14.6% (Year1) and 14.5% (Year2) for a cumulative average of 31.2%: (SERFF: MUTA-133015159 )

The Company originally requested four annual increases in the average amounts of 33.1% (Year1), 26.4% (Year2), 23.3% (Year3), and 5.8% (Year4) for a cumulative average of 121.7%.

Approved 4/27/2022 
Proposed Effective Date: 9/1/2022.

Long-Term Care Aproved Rates for 2021

 
  1. ​​​​​Lincoln National Life Insurance Company

Policy Forms: Series LTC1 and Series LTC2; approve three annual increases in the amounts of 15%, 15%, and 15% (a cumulative 52.1% increase ) and then no further rate increases. (SERFF: TRST-132996661)

The Company originally requested three annual increases in the amounts of 15%, 15%, and 5.5% (a cumulative 39.5% increase)  and planned to further ask for rate increases until Maryland rates are in line with nationwide rates.

Approved 12/22/2021

Proposed Effective Date: The proposed increases will be implemented no earlier than March 1, 2022  after fulfillment of all statutory and contractual requirements.

  1. Genworth Life Insurance Company
Policy Forms: 50000, 50001, 50003, 50018, 50020, 50021, 50022, 60394, 60407, 60491, 60494, 62100, 7021; approve 52.1% rate increase phased over a three-year period as 15%, 15%, and 15% for policies with lifetime benefits. The Company also agrees that no future rate increases will be sought on these policy forms after this approval: (SERFF: GEFA-132338055).

The Company originally requested 101.1% rate increase phased over a five-year period as 15%, 15%, 15%, 15%, and 15% for policies with lifetime benefits.
Approved 11/23/2021
Proposed Effective Date: This rate increase will apply to policies on their billing anniversary date, following a 60 day policyholder notification period.
 
  1. Allianz Life Insurance Company of North America
Policy Forms: 10-P-Q-MD (GPR); approve the following: (SERFF: ALLB-132894939)
2 - Four Year Benefit Period – 0% rate increase
5 - Eight Year Benefit Period – 15% rate increase
Lifetime Benefit Period – 15% rate increase in year one, and 10% rate increase in year two
 
The Company originally requested the following:
2 - Four Year Benefit Period – 20% rate increase
5 - Eight Year Benefit Period – 45% rate increase
Lifetime Benefit Period – 65% rate increase
Approved 10/14/2021
Proposed Effective Date: The requested rate increase is assumed to be effective December, 2021. 
Policy Forms: 11-P-Q-MD (GP2); approve the following: (SERFF: ALLB-132819009)
2 - Four Year Benefit Period – 0% rate increase
5 - Eight Year Benefit Period – 10% rate increase
Lifetime Benefit Period – 15% rate increase
 
The Company originally requested the following:
2 - Four Year Benefit Period – 15% rate increase
5 - Eight Year Benefit Period – 25% rate increase
Lifetime Benefit Period – 45% rate increase
Approved 10/14/2021
Proposed Effective Date: The requested rate increase is assumed to be effective December, 2021.
  1. Genworth Life Insurance Company

    Policy Forms: 7050CRT AARP; approve one single 15% rate increase: (SERFF: GEFA-132893949)
The Company originally requested 103% rate increase phased over a six-year period as 15%, 15%, 15%, 15%, 15%, and 1.0%.
Approved 10/14/2021
Proposed Effective Date: This rate increase will apply to policies on their billing anniversary date, following a 60 day policyholder notification period.
 
  1. Genworth Life Insurance Company

    Policy Forms: 7035 et al; No increases for those policyholders with issued age 70 or older, or without any inflation protections. For the remaining policies, approve the following schedule as well as offer Lifetime Stable Premium Option (LSPO) to those who subject to the rate increases: (SERFF: GEFA-132755269)

    Three annual increases in the amounts of 15%, 15%, and 15%

    The Company originally requested five annual increases in the amounts of 15%, 15%, 15%, 15%, and 15% for the same remaining policies.
Approved 9/2/2021
Proposed Effective Date: This rate increase will apply to policies on their billing anniversary date, following a minimum 60-day policyholder notification period.
  1. Provident Life and Accident Insurance Company
    Policy Forms:   RLTC03, RLTCP03, LTC03, LTCP03, and LTCT03; No rate change for members with either 2-year benefit period or issue age above 64 or elimination periods of 180 days or more. For the remaining policies,  approve a 3-year plan as follows:(SERFF: UNUM-132732326) 
     
Post - Rate Stability Year 1 Year 2 Year 3 Cumulative
No Inflation, Non-Lifetime BP 15.0% 12.5% 0.0% 29.4%
No Inflation, Lifetime BP 15.0% 12.5% 0.0% 29.4%
Simple Inflation, Non-Lifetime BP 15.0% 12.5% 12.5% 45.5%
Simple Inflation LS, Non-Lifetime BP 5.4% 5.3% 0.0% 11.0%
Simple Inflation, Lifetime BP 15.0% 12.5% 12.5% 45.5%
Simple Inflation LS, Lifetime BP 5.4% 5.3% 0.0% 11.0%
Compound Inflation, Non-Lifetime BP 15.0% 12.5% 12.5% 45.5%
Compound LS Inflation, Non-Lifetime BP 0.0% 0.0% 0.0% 0.0%
Compound Inflation, Lifetime BP 15.0% 12.5% 12.5% 45.5%
Compound Inflation LS, Lifetime BP 0.0% 0.0% 0.0% 0.0%

The Company originally requested a one-time average 135.2% rate increase.    

Approved 5/28/2021 
Proposed Effective Date: The rate increase will apply to policies on their policy anniversary date following at least a 90-day policyholder notification period.
  1. RiverSource Life Insurance Company
Policy Forms:  30160A-MD and 32100; The company provides the new Benefit Increase Options for policyholders who currently have a 5% Simple or 5% Compound Benefit Increase Option as follows.  No rate changes for existing benefits. ( SERFF: AERS-132727975)

A new 0% Simple Benefit Increase Option, which will be available only to those policyholders who currently have a 5% Simple Benefit Increase Option.
A new 2% Compound Benefit Increase Option and a new 0% Compound Benefit Increase Option, which will be available only to those policyholders who currently have a 5% Compound Benefit Increase Option.
Approved 5/28/2021
Proposed Effective Date: second year of the multi-year increase with an initial effective date of October 15, 2021.
 
Policy Forms:  30160A-MD; The company provides the new Benefit Increase Options for policyholders who currently have a 5% Simple or 5% Compound Benefit Increase Option as follows.  No rate changes for existing benefits. ( SERFF: AERS-132727968)

A new 0% Simple Benefit Increase Option, which will be available only to those policyholders who currently have a 5% Simple Benefit Increase Option.

A new 2% Compound Benefit Increase Option and a new 0% Compound Benefit Increase Option, which will be available only to those policyholders who currently have a 5% Compound Benefit Increase Option.

Approved 5/28/2021
Proposed Effective Date: second year of the multi-year increase with an initial effective date of October 15, 2021.

Policy Forms:  30225-MD, 30225-MD1 and 30225A-MD1; The company provides the new Benefit Increase Options for policyholders who currently have a 5% Simple or 5% Compound Benefit Increase Option as follows.  No rate changes for existing benefits. ( SERFF: AERS-132727946)

A new 0% Simple Benefit Increase Option, which will be available only to those policyholders who currently have a 5% Simple Benefit Increase Option.
 
A new 2% Compound Benefit Increase Option and a new 0% Compound Benefit Increase Option, which will be available only to those policyholders who currently have a 5% Compound Benefit Increase Option.
Approved 5/28/2021
Proposed Effective Date: second year of the multi-year increase with an initial effective date of October 15, 2021.
  1. Genworth Life Insurance Company

    Policy Form 7052MD (SERFF #GEFA-132466828): 26.6% rate increase for most policyholders.  Policies with issue age 70 and above, policies with an elimination period of 365 days and policies with no inflation are excluded from the rate increase.

    The rate increase will be phased in over two years at 12.5% in year one, and 12.5% in year two.

    The Company originally requested a 66.3% rate increase for all policies.
Approved 3/23/2021
Proposed Effective Date: This rate increase will apply to policies on their billing anniversary date, following a minimum 60-day policyholder notification period.
 
Policy Form 7046MD (SERFF #GEFA-132417374): 21.0% rate increase for most policyholders.  Policies with issue age 65 and above and policies with two year benefit periods are excluded from the rate increase.

The rate increase will be phased in over three years at 10.0% in year one, 10.0% in year two and 0.0% in year three.

The Company originally requested a 65.1% rate increase for all policies.
Approved 3/23/2021
Proposed Effective Date: This rate increase will apply to certificates as soon as administratively possible following a rate increase approval. Certificate holders will be given at least 60-day advance notification of any rate increase. In addition, rate increases will not overlap a group’s Future Purchase Options Benefit (“FPO”) window. Premium rate increase implementation dates will occur after the FPO window has closed.
 
  1. Brighthouse Life Insurance Company

    Policy Forms:  H-LTC2J-30, et al., H-LTC3J, et al., H-LTC3JP20, et al., H-LTC3JQ8, et al., H-LTC4JQ9, et al., H-LTC4JFQ17, et al.;  Rate increase schedule below only applies to policies with more than two-year benefit period. (SERFF: MILL-132207211)
     
    Policies with no inflation protection option will receive three annual increases in the amounts of 5%, 5%, 5%
    Policies originally issued with a CPI guaranteed purchase option will receive three annual increases in the amounts of 5%, 5%, 5%

    All other policies will receive three annual increases in the amounts of 15%, 15%, 7.5%   
    The Company originally requested a one-time 149% rate increase for all policies. 
Approved 2/1/2021
Proposed Effective Date:  The increase will be implemented on the policy billing anniversary date following at least a 60-day policyholder notification period following approval but  no sooner than 12 months after the prior rate increase was effective.
  1. MedAmerica Insurance Company

    Policy Forms:  LTC-CD8-MD,  LTC-CD9-MA-MD, NTQ11-337-MA-MD-601,  LTQ11-336-MA-MD-601,  LTQ11-336-MA-MD-1100,  and  HTQ11-338-MA-MD-601; No rate change for members with either Issue Age above 69 or Home Health Only coverage. For the remaining policies, approve a three-year plan as follows: (SERFF: MILL-132323146)

    - For Maryland members with Non-Lifetime Benefit Period: 7.5% in year one, 7.5% in year two, and 0% in year three

    - For Maryland members with Lifetime Benefit Period: 12.5% in year one, 12.5% in year two, and 0% in year three

    The Company originally requested a one-time 49% rate increase for policies with Non-Lifetime Benefit Period, and a one-time 251% rate increase for policies with Lifetime Benefit Period.   
Approved 1/12/2021
Proposed Effective Date: The rate increase will apply to policies on their next premium payment date following at least a 60‐day policyholder notification period following being filed for use by the Department of Insurance. 
 

Policy Forms:  SPL-336; No rate change for members with either no more than 2-year Benefit Period or Issue Age above 64 or Home Health Only coverage. For the remaining policies,  approve a 3-year plan as follows: (SERFF: MILL-132137655)

For Maryland members with No Inflation Protection: 7.5% in year one, 7.5% in year two, and 0% in year three

For Maryland members with Inflation Protection: 12.5% in year one, 10.0% in year two, and 0% in year three
 
The Company originally requested a one-time 66% rate increase for policies with No Inflation Protection, and a one-time 148% rate increase for policies with Inflation Protection.

Approved 1/12/2021
Proposed Effective Date: The rate increase will apply to policies on their next premium payment date following at least a 60‐day policyholder notification period following being filed for use by the Department of Insurance.

  1. Genworth Life Insurance Company

    Policy Forms 7030R, 7032R (SERFF #GEFA-132431166): 29.4% rate increase for most policyholders. Policies with a benefit period of two (2) years and policies with issue ages 75 or higher are excluded from the rate increase.

    The rate increase will be phased in over three years at 15% in year one, 12.5% in year two and 0% in year three.

    The Company originally requested a 145% rate increase for policies with lifetime benefits and a 66.7% rate increase for policies with limited benefits.

    As part of this approval, the Company is planning to offer the Lifetime Stable Premium Option (LSPO).   The LSPO provides the following:
    · A lifetime premium rate guarantee,
    · A three-year benefit period (six-year benefit period for Shared policies),
    · Retention of prior benefit increases in the Daily Payment Maximum,
    · 1% compound benefit increase going forward, and
    · A choice of (1) a longer elimination period (180 day for facility / 90 day for home care) or (2) 10% coinsurance combined with elimination periods comparable to those of most current policyholders (100 day for facility / 0 day for home care).
Approved 1/5/2021
Proposed Effective Date: This rate increase will apply to policies on their billing anniversary date, following a minimum 60-day policyholder notification period.

 

  1. Metropolitan Life Insurance Company
Policy Forms:  G.LTC5398 and G.LTC5498; Approve five annual increases in the amounts of 10%, 10%, 0%, 0%, and 0%. (SERFF: META-132388213)

The Company originally requested two annual increases in the amounts of 10%, and 10% without the rate lock from year 3 to year 5 for all policies.
Approved 1/4/2021
Proposed Effective Date:  The rate increase will apply to certificate holders on the anniversary of their original coverage effective date, following at least a 60-day notification period after the increase is approved.
 
  1. Genworth Life Insurance Company

    Policy Forms 7042MD, 7044MD, 7042MD Rev, 7044MD Rev (SERFF #GEFA-132431293): 32.25% rate increase for most policyholders.  Policies with a benefit period of two (2) years, policies with an elimination period of 365 days and policies with no Benefit Inflation Option are excluded from the rate increase.

    The rate increase will be phased in over two years at 15% in year one, and 15% in year two.

    The Company originally requested a 97.5% rate increase for all policies.
Approved 1/4/2021
Proposed Effective Date: This rate increase will apply to policies on their billing anniversary date, following a 60 day policyholder notification period.

Long-Term Care Approved Rates for 2020

 
  1. ​​​​Metropolitan Life Insurance Company
Policy Forms:  GCLTCAARP-04-OP;  Approve five annual increases in the amounts of 10%, 10%, 0%, 0%, and 0% for members with more than "2-Year" benefit period.  (SERFF: META-132388206)

The Company originally  requested two annual increases in the amounts of 10%, and 10% without the rate lock from year 3 to year 5 for all policies. 
Approved 12/23/2020
Proposed Effective Date: The rate increase will apply to certificate holders on the anniversary of their original coverage effective date, following at least a 60-day notification period after the increase is approved. 
  1. MedAmerica Insurance Company
    Policy Forms:  SPL2‐336‐MD; Rate increase schedule below only applies to policies with Inflation Protection and Cash Benefit Account of no less than $200,000 and Issue Age no more than 64. (SERFF: TRIP-132502007)

    Three annual increases in the amounts of 10%, 10%, and 0%

    The Company originally requested a one-time 25.6% rate increase for policies with No Inflation Protection, and a one-time 40.1% rate increase for policies with Inflation Protection.

Approved 12/18/2020
Proposed Effective Date: The rate increase will apply to policies on their next premium payment date following at least a 60‐day policyholder notification period following being filed for use by the Department of Insurance. 

Policy Forms:  FC‐336‐MD  and FC‐337‐MD; Rate increase schedule below only applies to policies with Inflation Protection and Benefit Period more than 2 years and Issue Age no more than 64. (SERFF: TRIP-132294133)

Three annual increases in the amounts of 10%, 10%, and 0%

The Company originally wanted 32.5% premium rate increase in Maryland to be consistent with that requested nationwide.

Approved 12/18/2020
Proposed Effective Date: The rate increase will apply to policies on their next premium payment date following at least a 60‐day policyholder notification period following approval by the department of insurance.

  1. Genworth Life Insurance Company

Policy Forms 7000AP, 7020BB, 7020V (SERFF # GEFA-132431140): 21% rate increase for most policyholders.  Policies with a benefit period of two (2) years, policies with both a lifetime benefit period and no Benefit Inflation Option and policies with issue ages 75 or higher are excluded from the rate increase.

The rate increase will be phased in over three years at 10% in year one, 10% in year two and 0% in year three.

The Company originally requested a rate increase of 201% for policies with lifetime benefit periods and 63.1% for policies with limited benefit periods.

Approved 12/21/2020
Proposed Effective Date: This rate increase will apply to policies on their billing anniversary date, following a minimum 60-day policyholder notification period.

  1. Transamerica Life Insurance Company

    Policy Forms:  ICC10 TLC-3; Rate increase schedule below only applies to policies with issue age less than 70. (SERFF: AEGB-131687161)

    Three annual increases in the amounts of 14%, 14%, and 0%
    The Company originally requested a one-time 42.33% rate increase for all policies.

Approved 12/10/2020
Proposed Effective Date: The increase will be implemented within 3 months following approval after fulfillment of all statutory and contractual requirements.

Policy Forms:  TLC 1-FP (MD) 402, TOL 1-FP (MD) 402 and LI 1-FP (MD) 402; Rate increase schedule below only applies to policies with issue age less than 70 and with benefit period not less than 3 years. (SERFF: AEGB-131748916)

Three annual increases in the amounts of 15%, 15%, and 0%
 
The Company originally requested a one-time 48% rate increase for all policies.

Approved 11/30/2020
Proposed Effective Date: The increase will be implemented within 3 months following approval after fulfillment of all statutory and contractual requirements.

Policy Forms: GP001 796 (GC001-NH (MD) 796, GC001-LTC (MD) 796, GC001-HCC (MD) 796); Rate increase schedule below only applies to policies with issue age less than 70. (SERFF: AEGB-131748613)

Three annual increases in the amounts of 12.5%, 12.5%, and 0% for policies with benefit inflation protection and with benefit period exceeding 5 years

Three annual increases in the amounts of 10.0%, 10.0%, and 0% for policies with benefit inflation protection and with benefit period no more than 5 years

The Company originally requested a one-time 53% rate increase for all policies.

Approved 11/30/2020
Proposed Effective Date: The proposed rate increase will be implemented following approval and after fulfillment of all statutory and contractual requirements.

Policy Forms: FTQ (MD) 197 as Flex 2 TQ Series, LTC 3 (MD) 1091 (REV92), LTC 3R (MD) 1091 (REV92) as LTC 3 / 4 Series, LTC 5 TQ (MD) 1096 as LTC 5 TQ Series, LTCP (MD) 690 as Golden Care Series, GCPRO-III TQ LTC (MD) 497 and GCPRO-III TQ HHC (MD) 497 as Protector III TQ Series, KLTCP 1 (MD) 690 as Future Care Series, LI-LTCP (MD) 192 and LI-LTCP (MD2) 192 as Future Care 2 NTQ Series, LI-LTCP TQ (MD) 197 as Future Care 2 TQ Series, LI-LTCP TQ (MD) 600 as Future Care Pool TQ Series, LTC-104-194-MD, LTC-105-194-MD, LTC-106-194-MD as TransCare Companion Series, LTC 124-197-MD, LTC 125-197-MD, LTC 126-197-MD as TransCare TQ Series, LTC 304-198-MD, LTC 305-198-MD as TransGenerations Series, 3122 (00) 288 (3132 (00) 288) as LTC GRP Series, GLTP 2 1289 & GHHC 1 189 (GLTC 2 1290 & GHHC 1 189 CERT) as LTC 2 GRP Series, GLTP 3 1091 & GLTP 3R 1091 (GLTC 3 1091 & GLTC 3R 1091) as LTC 3/4 GRP Series; Rate increase schedule below only applies to policies with issue age less than 75. (SERFF: AEGB-131748270)

Three annual increases in the amounts of 15.0%, 15.0%, and 0% for policies with benefit inflation protection and with benefit period exceeding 5 years

Three annual increases in the amounts of 12.5%, 12.5%, and 0% for policies without benefit inflation protection and with benefit period exceeding 5 years

Three annual increases in the amounts of 12.5%, 12.5%, and 0% for policies with benefit inflation protection and with benefit period no more than 5 years

The Company originally requested a one-time 53% rate increase for all policies.

Approved 11/30/2020
Proposed Effective Date: The proposed rate increase will be implemented following approval and after fulfillment of all statutory and contractual requirements.

  1. Bankers Life and Casualty Company

    Policy Forms: GR-N340, GR-N350, GR-N370, GR-N380;  12.9% rate increase for policyholders with Issue Age under 70. (SERFF: BNLB-132305631)

    The 12.9% rate increase will be phased in over two years with 7.5% in year 1 and 5.0% in year.

    The Company has agreed with a 3-year rate guarantee from year three to year five.

    The Company originally requested a one-time 15% rate increase for all policies with policy forms listed above.

Approved 11/18/2020
Proposed Effective Date: The company will implement this increase to policies on their next billing date following a 45 day policyholder notification period.

  1. Berkshire Life Insurance Company of America

    Policy Forms:  BG01P(06/04)-MD and  BG01P(01/09)-MD; Rate increase schedule below only apply to policies with issue age less than 76. (SERFF: LFCR-132205390)

    BG01P(06/04)-MD: Three-year phase-in increase of 5.0% each year with a cumulative 15.8% increase.

    BG01P(01/09)-MD: Three-year phase-in increase of 7.5% each year with a cumulative 24.2% increase.

    The Company originally requested a one-time 20% rate increase for all policies with form  BG01P(06/04)-MD, and two-year phase-in increase of 15% each year with a cumulative 32.3% increase for all policies with form  BG01P(01/09)-MD. 
Approved 11/18/2020
Proposed Effective Date:  The rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period after approval. 
  1. Metropolitan Life Insurance Company
Policy Form: GCLTCAARP-06-FC; 7.06% rate increase with a three year rate guarantee. (SERFF: META-132100605)
The Company originally requested a 7.06% rate increase without a rate guarantee.
Approved 9/23/2020
Proposed Effective Date:
The rate increase will apply to certificateholders on the anniversary of their original coverage effective date, following at least a 60-day notification period after the increase is approved.
  1. Genworth Life Insurance Company

Policy Forms 7035 et al. (SERFF # GEFA-131746748): 15% increase for policies with lifetime benefit periods and 13.5% increase for policies with limited benefit periods, excluding policies issued to policyholders age 70 or older or those that have no benefit inflation.


The Company originally requested a rate increase of 57% for policies with lifetime benefit periods and 35% for policies with limited benefit periods.

Approved 09/08/2020
Proposed Effective Date:
This rate increase will apply to policies on their anniversary date, following a minimum 60-day policyholder notification period.
  1. Allianz Life Insurance Company of North America

Policy Forms N-3000-P-MD(Q), N-3000-P-MD(NQ), N-2720-P-MD, N-2721-P-MD, N-2720-P-MD(Q), N-2721-P-MD(Q), N-2720-P-MD(NQ), N-2721-P-MD(NQ) (SERFF # ALLB-132270441): 10% increase for policies with 2 year benefit periods. 10% increase for policies with no inflation protection. 42.3% increase for all other policies. The 42.3% increase will be phased-in over three years as follows: 12.4% in year 1, 12.5% in year 2 and 12.5% in year 3.

The Company will offer a three year rate guarantee from the implementation date of this rate increase.

The Company originally requested a rate increase of 55% for policies with benefit periods of 2 or 3 years, a 95% rate increase for policies with benefit periods of 5 years and a 125% rate increase for policies with lifetime benefits.

Approved 09/02/2020

Proposed Effective Date:
T
he increase would be effective on a policy’s next anniversary following the implementation date. Policyowners will be notified at least 60 days prior to the effective date of their increase.

  1. Massachusetts Mutual Life Insurance Company

    Policy Forms: MM-200-P-MD et al., MM-300-P-MD et al., MM-400-P-MD et al., MM-500-P-MD et al., MM-501-P-MD et al., MM-500-P-1-MD et al., MM-501-P-1-MD et al.; Rate increase schedule below only apply to policies with issue age less than 70 and with inflation protection. (SERFF: MILL-131477951)

    For policies with benefit periods less than five years: 21.0% phased-in at 10% for two years.

    For policies with benefit periods greater than or equal to five years: 33.1% phased-in at 10% for three years for policies with 5% simple inflation protection, 21.0% phased-in at 10% for two years for policies with 3% compound inflation protection, and 60.2% phased-in at 12.5% for four years for policies with 5% compound inflation protection.

    The Company has guaranteed rates for affected policies for 5 years from the time of rate increase implementation.

    The Company originally requested an average 115.0% cumulative rate increase phased-in multiple years for all policyholders with the above forms.

    Approved 08/25/2020

Proposed Effective Date:
This rate increase will apply to policies on their next policy anniversary date following at least 90-day policyowner notification period after approval.

  1. Continental Casualty Company

Policy Forms P1-N0080, P1-N0081, P1-N0085, P1-N0086, P1-N0095, P1-N0096, P1-N0100, P1-N0101 (SERFF # CNAB-132209399): 42.3% increase for policyholders with comprehensive coverage and inflation coverage.  The increase will be phased-in over three years as follows: 15% in year 1, 12.5% in year 2 and 10% in year 3.

After the implementation of the rate increase, policyholders with non-lifetime benefit periods will have a three year rate guarantee period. 
The Company originally requested a rate increase of 157.6% for all policyholders with inflation coverage. 

Approved 8/14/2020 
Proposed Effective Date:
The rate increase will apply to policies on their next premium due date following a notification period at least as long as required by Maryland following approval. No insured will receive more than one increase in a 12 month period.
 
  1. The Prudential Insurance Company of America
Policy Form Number: GRP 113252, GRP 113252ED 05/2010; 18.8% increase for policyholders with inflation coverage. The increase only applies to applications received before December 23, 2011. (SERFF: PRUD-131967913)

The increase will be phased-in over two years at 9.0% annually. After implementation of the rate increase, the Company has agreed to a one year rate guarantee period.

The Company originally requested increases ranging from 10% to 32.25% for policies with no inflation and 32.25% for policies with inflation, and no rate guarantee period.

Approved 04/28/2020
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60 day notification to the certificate holder. Implementation will be no earlier than October 1, 2020 for phase one and October 1, 2021 for phase two.
  1. RiverSource Life Insurance Company
Policy Forms: 30160A-MD, subject to endorsement form 32100; 15.0% rate increase for policyholders with inflation.  (SERFF: AERS-132063601)
The 15.0% rate increase will be phased in over two years at 7.2% annually.
The Company has agreed to a 3 year rate guarantee period after implementation of the rate increase.
The Company originally requested a 15.0% rate increase for all policyholders with no rate guarantee period.
Approved 04/24/2020
Proposed Effective Date: The premium rate increase will apply to policies on their policy anniversary date following a 60-day notification period.
Policy Forms: 30160A-MD; 10.0% rate increase for policyholders with inflation.  (SERFF: AERS-132063498)
 
The 10.0% rate increase will be phased in over two years at 4.9% annually.
 
The Company has agreed to a 3 year rate guarantee period after implementation of the rate increase.
 
The Company originally requested a 15.0% rate increase for all policyholders with no rate guarantee period.
 
Approved 04/24/2020
Proposed Effective Date: The premium rate increase will apply to policies on their first and second consecutive policy anniversary dates following a 60-day notification period.
 
Policy Forms: 30225-MD, 30225-MD1, 30225A-MD1; 32.25% rate increase for policyholders with inflation.  (SERFF: AERS-132063489)
 
The 32.25% rate increase will be phased in over three years at 9.8% annually.
 
The Company has agreed to a 3 year rate guarantee period after implementation of the rate increase.
 
The Company originally requested a 15.0% rate increase for all policyholders with no rate guarantee period.
 
Approved 04/24/2020
Proposed Effective Date: The premium rate increase will apply to policies on their first, second and third consecutive policy anniversary dates following a 60-day notification period.
 
Policy Forms: 30240-MD; 15.0% rate increase for policyholders with inflation.  (SERFF: AERS-132063430)
 
The 15.0% rate increase will be phased in over two years at 7.2% annually.
 
The Company has agreed to a 3 year rate guarantee period after implementation of the rate increase.
 
The Company originally requested a 15.0% rate increase for policies with a lifetime benefit period and a 12.7% rate increase for policies with non-lifetime benefit periods with no rate guarantee period.
 
Approved 04/24/2020
Proposed Effective Date: The premium rate increase will apply to policies on their first and second consecutive policy anniversary dates following a 60-day notification period.
 
  1. Lincoln Benefit Life Company 
Policy Forms: LB-6301-P-MD, LB-6302-P-MD, LB-6303-P-MD, (Q)&(NQ);  26.6% rate increase for policyholders with inflation protection option and benefit period(NH/HH) option other than 3-year/3-year. There is no increase for other policyholders. (SERFF: LFCR-132139857)

The 26.6% rate increase will be phased in over two years at 12.5% annually.

The Company has agreed to a 5 year rate guarantee starting from the implementation of the first phase of the two-phase rate increase.
 
The Company originally anticipated requesting three rounds of 15% rate increase with no rate guarantee period for all policyholders.
 
Approved 04/21/2020
Proposed Effective Date: The rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period after approval.
 
  1. CMFG Life Insurance Company
Policy Forms: 2002-LTC-FAC, 2002-LTCR-HCC; 45.0% rate increase for policyholders with inflation and comprehensive coverage. There is no increase for policyholders with facility only coverage, home care only coverage, or no inflation coverage.  (SERFF: CUNA-131998781)
The 45.0% rate increase will be phased in over four years at 9.7% annually.
 
The Company has agreed to a 5 year rate guarantee after implementation of the rate increase.
The Company originally requested a 52.1% rate increase for all policyholders with no rate guarantee period.

Approved 04/21/2020
Proposed Effective Date: This rate will be implemented as soon as possible after approval has been granted as allowed based on regulation.

Policy Forms: 2006-LTC-COMP; 34.0% rate increase for policyholders with inflation and comprehensive coverage. There is no increase for policyholders with facility only coverage, home care only coverage, or no inflation coverage.  (SERFF: CUNA-131998024)

The 34.0% rate increase will be phased in over four years at 7.5% annually.

The Company has agreed to a 5 year rate guarantee after implementation of the rate increase.

The Company originally requested a 52.1% rate increase for all policyholders with no rate guarantee period.

Approved 04/21/2020
Proposed Effective Date: This rate will be implemented as soon as possible after approval has been granted as allowed based on regulation.
  1. The Prudential Insurance Company of America
Policy Form Number: GRP 113252REV; 10% increase for policyholders with compound inflation and benefit periods of less than 10 years (SERFF: PRUD-131968014)

The Company originally requested a 32.25% rate increase for all policyholders.

Approved 04/14/2020
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60 day notification to the certificate holder. Implementation will be no earlier than September 1, 2020.
  1. New York Life Insurance Company
Policy Forms: ILTC-4300 et al., INH-4300 et al.; 80.0% rate increase for policyholders with an attained age under 69, a 45.0% rate increase for policyholders with an attained age of 69 to 73, and a 0.0% rate increase for policyholders with an attained age 74 or above as of January 1, 2020. (SERFF: NWLT-131933277)

The 80% rate increase will be phased in over five years: 14%, 13%, 12%, 12%, 11.5%.
The 45% rate increase will be phased in over five years: 7.71% each year for five years.

The company will update each policyholder’s policy, via an endorsement, to be non-cancellable.  After implementation of the rate increase, the Company will guarantee premiums for the life of the contract.

Approved 04/08/2020
Proposed Effective Date: The rate increase will apply to policies on their first policy anniversary date following at least a 60 day policyholder notification period following approval.

Policy Forms: ILTC-5000 (MD)(1001) et al., INH-5000 (MD)(1001) et al.;  For policyholders with an issue age below 61, an 80.0% rate increase for attained ages under 69, a 45.0% rate increase for attained ages 69 to 73, and a 0.0% rate increase for policyholders with an attained age 74 or above as of January 1, 2020.

For policyholders with an issue age above 60, a 45.0% rate increase for policyholders with an attained age under 74 and a 0.0% rate increase for policyholders with an attained age 74 or above as of January 1, 2020. (SERFF: NWLT- 131933241)

The 80% rate increase will be phased in over five years: 14%, 13%, 12%, 12%, 11.5%.
The 45% rate increase will be phased in over five years: 7.71% each year for five years.

The company will update each policyholder’s policy, via an endorsement, to be non-cancellable.  After implementation of the rate increase, the Company will guarantee premiums for the life of the contract.

Approved 04/08/2020
Proposed Effective Date: The rate increase will apply to policies on their first policy anniversary date following at least a 60 day policyholder notification period following approval.
 
  1. John Hancock Life Insurance Company
Custom Care II: Policy Forms: LTC-03 MD, BSC-03 MD; 18.7% increase for policies with inflation phased-in over 2 years at 12% in the first year and 6% in the second year.  (SERFF: MULF-132013798)
 
The Company originally requested increases ranging from 19.6% to 26.1% depending upon issue age, benefit period, and inflation option.
 
Approved 04/01/2020
Proposed Effective Date: New rates will not be effective until after the completion of prior rate increases for all policyholders with product forms listed in this memo. These rates will be effective on the next policy anniversary date after completion, following at least a 90 day policyholder notification period.
 
Advantage: Policy Forms: LTC-MD-91, NH-MD-91, LTC-94 MD, LTC-94-MD 9/94, NH-94-MD; 52.1% increase for policies with inflation, phased-in at 15% annually over 3 years.  (SERFF: MULF-132013921)
 
The Company originally requested an increase of 48.3% for all policyholders.  
 
As part of the approval, the Company is offering inflation landing spots.  Those with 5% inflation may reduce their inflation to 2.6% on a go forward basis and totally offset the rate increase. Those with 3.9% inflation may reduce their inflation to 1.8% on a go forward basis and totally offset the rate increase.  The Company will also be offering a Shared Cost Option as well as a paid-up option to all insureds.
 
Approved 04/01/2020
Proposed Effective Date: New rates will not be effective until after the completion of prior rate increases for all policyholders with product forms listed in this memo. These rates will be effective on the next policy anniversary date after completion, following at least a 90 day policyholder notification period.
 
Custom Care: Policy Forms: LTC-02 MD, BSC-02 MD; 52.1% increase for policies with inflation, phased-in at 15% annually over 3 years. (SERFF: MULF-132013921)
 
The Company originally requested an increase of 78.9% for all policyholders.  
 
As part of the approval, the Company is offering inflation landing spots. Those with 5% inflation may reduce their inflation to 3.0% on a go forward basis and totally offset the rate increase. Those with 4.3% inflation may reduce their inflation to 2.7% on a go forward basis and totally offset the rate increase. The Company will also be offering a Shared Cost Option as well as a paid-up option to all insureds.
 
Approved 04/01/2020
Proposed Effective Date: New rates will not be effective until after the completion of prior rate increases for all policyholders with product forms listed in this memo. These rates will be effective on the next policy anniversary date after completion, following at least a 90 day policyholder notification period.
Gold: Policy Forms: LTC-96 MD 9/96, LTC-96 MD 3/97, LTC-96CL MD 9/96, LTC-96CL MD 3/97, NH-99 MD 4/99, LTC2000 MD 4/00; 52.1% increase for policies with inflation, phased-in at 15% annually over 3 years.  15.6% increase for policies with no inflation, phased-in at 7.5% annually over two years. (SERFF: MULF-132013921)
 
The Company originally requested an increase of 109.4% for all policyholders.
 
As part of the approval, the Company is offering inflation landing spots.  Those with 5% inflation may reduce their inflation to 3.0% on a go forward basis and totally offset the rate increase. Those with 4.1% inflation may reduce their inflation to 2.5% on a go forward basis and totally offset the rate increase.  The Company will also be offering a Shared Cost Option as well as a paid-up option to all insureds.
 
Approved 04/01/2020
Proposed Effective Date: New rates will not be effective until after the completion of prior rate increases for all policyholders with product forms listed in this memo. These rates will be effective on the next policy anniversary date after completion, following at least a 90 day policyholder notification period.
 
  1. Union Security Insurance Company
Policy Forms: 6062-MD, 6063-MD; 32.25% increase for policies with inflation phased-in over 2 years at 15% annually.  The Company has also agreed to no rate increase for one year after the increase is implemented. (SERFF: MULF-132067675)
 
The Company originally requested a 245.0% rate increase for all policyholders.
 
As part of the approval, the Company is offering inflation landing spots.  Those with 5% inflation may reduce their inflation to 4.2% on a go forward basis and totally offset the rate increase. The Company will also be offering a Shared Cost Option as well as a paid-up option to all insureds.
 
Approved 04/01/2020
Proposed Effective Date: These rates will be effective on the next policy anniversary date, following at least a 90 day policyholder notification period.
  1. Time Insurance Company II
Policy Forms: 4061-MD, 4062-MD, 4063-MD, 4073-MD; 32.25% increase for policies with inflation phased-in over 2 years at 15% annually.  The Company has also agreed to no rate increase for one year after the increase is implemented. (SERFF: MULF-132067595)
The Company originally requested a 323.9% rate increase for all policyholders.
As part of the approval, the Company is offering inflation landing spots.  Those with 5% inflation may reduce their inflation to 4.2% on a go forward basis and totally offset the rate increase. The Company will also be offering a Shared Cost Option as well as a paid-up option to all insureds.
Approved 04/01/2020
Proposed Effective Date: These rates will be effective on the next policy anniversary date, following at least a 90 day policyholder notification period.
  1. The Prudential Insurance Company of America
Policy Form Number: 83500 GR 1067; 42.4% increase phased-in at 12.5% annually over three years. (SERFF: PRUD-131801572)
 
The Company originally requested a one-time 106% rate increase for all policyholders.
 
Approved 03/25/2020
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60 day notification to the certificate holder. Implementation will be no earlier than July 1, 2020.
 
Policy Form Number: 83500 BFW 5018; 10.3% increase phased-in at 5% annually over two years for policies with inflation protection. (SERFF: PRUD-131802095)
 
The Company originally requested a one-time 33.3% rate increase for all policyholders.
Approved 03/26/2020 
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60 day notification to the certificate holder. Implementation will be no earlier than July 1, 2020.
 
  1. The Prudential Insurance Company of America
Policy Form Number: 83500 COV 5030; 5% increase for policies with inflation protection. (SERFF: PRUD-131802208)
 
The Company originally requested a 10% rate increase for all policyholders.
 
Approved 03/24/2020 
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60 day notification to the certificate holder. Implementation will be no earlier than July 1, 2020.
  1. American General Life Insurance Company
Policy Forms: 64028-MD, C12271-MD; 10% increase for policies with inflation with a five year rate guarantee. (SERFF: LTCG-132050293)
The Company originally requested a 25% rate increase for all policyholders.
Approved 03/13/2020
Proposed Effective Date: The proposed effective date after approval and fulfillment of all statutory and contractual requirements will not be sooner than June 1, 2020, which is more than one year from the implementation date of the previous rate increase.
  1. The Prudential Insurance Company of America
Policy Forms: GRP 112608; 32.25% rate increase for policyholders with compound inflation.  The rate increase will be phased-in annually over two years at 15% per year. (SERFF: PRUD-131967876)
The Company originally requested rate increases ranging from 22.9% to 32.25% depending upon benefit period and inflation type.
As part of the approval, the Company will offer inflation landing spots, in which those with 5% compound inflation may reduce to 3.5% on a go forward basis. Note that policyholders would retain any inflation increases that have accrued to date. By electing this option, impacted policyholders would offset a substantial portion of the rate increase.
Approved 03/12/2020
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60 day notification to the certificate holder. Implementation will be no earlier than September 1, 2020 for phase one and September 1, 2021 for phase two.
 
Policy Forms: GRP 99507, GRP 99508, GRP 99509; 32.25% rate increase for policyholders with compound inflation.  The rate increase will be phased-in annually over two years at 15% per year. (SERFF: PRUD-131965333)
 
The Company originally requested rate increases of 32.25% for all policyholders.
 
As part of the approval, the Company will offer inflation landing spots. Those with 5% compound inflation and lifetime or 10 year benefits may reduce to 4.1% on a go forward basis. Those with 5% compound inflation and benefit periods of less than 10 years may reduce to 3.8% on a go forward basis. Note that policyholders would retain any inflation increases that have accrued to date. By electing this option, impacted policyholders would offset a substantial portion of the rate increase.
 
Approved 03/12/2020
Proposed Effective Date: This rate revision will be implemented following state approval and a minimum of a 60 day notification to the certificate holder. Implementation will be no earlier than September 1, 2020 for phase one and September 1, 2021 for phase two.
  1. Metropolitan Life Insurance Company
Policy Forms: LTC.02, LTC.03 and LTC.04; 21.0% increase phased-in at 10% annually over two years with a ten year rate guarantee. (SERFF: META-132065931)

The Company originally requested a 32.3% rate increase with a ten year rate guarantee.
 
Approved 2/18/2020
 
Proposed Effective Date: This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period following approval.
 
Policy Forms: LTC2007; 21.0% increase phased-in at 10% annually over two years with a ten year rate guarantee. (SERFF: META-132065794)

The Company originally requested a 32.3% rate increase with a ten year rate guarantee.
 
Approved 2/18/2020
Proposed Effective Date: This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period following approval.
 
Policy Forms:LTC2-FAC-MD, LTC2-VAL-MD, LTC2-IDEAL-MD, LTC2-PREM-MD issued on or after January 16, 2009; 13.6% increase with a ten year rate guarantee. (SERFF: META-132065790)
 
The Company originally requested a 13.6% rate increase with a ten year rate guarantee.
 
Approved 2/18/2020
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly,quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
 
Policy Forms:LTC2-FAC-MD, LTC2-VAL-MD, LTC2-IDEAL-MD, LTC2-PREM-MD issued on or before 1/15/2009 ; 42.4.0% increase phased-in at 12.5% annually over three years with a ten year rate guarantee. (SERFF: META-132065668)

The Company originally requested a 52.1% rate increase with a ten year rate guarantee.
 
Approved 2/18/2020
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
 
Policy Forms:LTC-FAC-MD, LTC-VAL-MD, LTC-IDEAL-MD, LTC-PREM-MD; 52.1% increase phased-in at 15% annually over three years with a ten year rate guarantee. (SERFF: META-132065580)

The Company originally requested a 74.9% rate increase with a ten year rate guarantee.
 
Approved 2/18/2020
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
 
Policy Forms:1LTC-97-MD, 2LTC-97-MD; 42.4% increase phased-in at 12.5% annually over three years with a ten year rate guarantee. (SERFF: META-132065466)
 
The Company originally requested a 52.1% rate increase with a ten year rate guarantee.
 
Approved 2/18/2020
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
 
  1. TIAA-CREF Life Insurance Company
Policy Forms: LTC.02, LTC.03 and LTC.04; 21.0% increase phased-in at 10% annually over two years with a ten year rate guarantee. (SERFF: META-132065935)

The Company originally requested a 32.3% rate increase with a ten year rate guarantee.
 
Approved 2/18/2020
Proposed Effective Date: This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period following approval.
 
  1. Teachers Insurance and Annuity Association of America
Policy Forms: LTC.02, LTC.03 and LTC.04; 21.0% increase phased-in at 10% annually over two years with a ten year rate guarantee. (SERFF: META-132065900)

The Company originally requested a 32.3% rate increase with a ten year rate guarantee.
 
Approved 2/18/2020
Proposed Effective Date: This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period following approval. 

Long-Term Care Approved Rates for 2019

 
  1. ​​​Unum Life Insurance Company of America

    Policy Forms: GLTC04, RGLTC04; 10.3% increase for policies with CPI/compound inflation, phased-in at 5% annually over two years. (SERFF: UNUM-131893470)

    The Company originally requested an 89% rate increase on policies with CPI/compound inflation and a 44% rate increase on policies with simple inflation.

    Approved 12/20/19

Proposed Effective Date: The rate increase will apply to policies on their policy anniversary date following a 60-day policyholder notification period.

Policy Forms: B.LTC, TQB.LTC, GLTC95, TQGLTC95; 6.8% rate increase for policies with no inflation, 25.4% rate increase, phased-in at 12% annually over two years for employer funded policies with compound uncapped inflation, 18.8% rate increase, phased-in at 9% annually over two years for employee paid policies with compound uncapped inflation and a 10.3% rate increase, phased-in at 5% annually over two years for employee paid policies with compound and simple capped inflation . (SERFF: UNUM-131905612)

The Company originally requested a 6.8% rate increase for policies with no inflation, a 113.3% rate increase for employer funded policies with compound uncapped inflation, a 155.9% rate increase for employee paid policies with compound uncapped inflation and a 66.3% rate increase for employee paid policies with compound and simple capped inflation.

Approved 12/20/19

Proposed Effective Date: The rate increase will apply to policies on their policy anniversary date following a 60-day policyholder notification period. 

  1. Lincoln National Life Insurance Company

    Policy Forms: HL-2500MD (2/91), HL-2950MD (2/95); 10.3% increase, phased-in at 5% annually over two years. (SERFF: TRST-132027258)

    The Company originally requested a 15% rate increase.

    Approved 12/18/19 

Proposed Effective Date:  The increase will be implemented as soon as possible following approval after fulfillment of all statutory and contractual requirements.

  1. Allianz Life Insurance Company of North America
Policy Forms:  10-P-Q-MD et al.(GPR) and 11-P-Q-MD et al.(GP2). (SERFF: ALLB-131810182)

Policy GPR affecting 700 Marylanders was submitted seeking a lifetime rate increase of 60% including 12% in 2019. The OCA asked for modifications due primarily to 1) delays in addressing rate correction and 2) a differing outlook of future and past interest earnings resulting in a 2019 composite rate increase of 11.5% and the removal of a requested rate increase of 10% for a benefit plan with only 12 members.

Policy GP2 affecting 330 Marylanders was submitted seeking a lifetime rate increase of 38% including 12% in 2019. The OCA asked for modifications due primarily to 1) delays in addressing rate correction and 2) a differing outlook for future and past interest earnings resulting in two consecutive annual rate increases of 5.5% and the removal of a requested rate increase of 15% for a benefit plan with only 23 members.

Approved 7/2/2019.
Proposed Effective Date:
The increase would be effective on a policy’s next anniversary following the implementation date. Policy owners will be notified at least 60 days prior to the effective date of their increase.
  1. Continental Casualty Company (SERFF: CNAB-131638175)

    The company wanted a one-time 74.8% rate increase for policy forms: P1-43636-A, et al, SR-LTCP et al, & GLTC-3-P-xx-01 et al. Due to the 15% cap on annual rate increase required by COMAR 31.14.01.04(A)(5), they sought a series of at least four 15%s.
     
    OCA approved a cumulative 20.94% increase phased in over a two year period – 12.5% in year 1, 7.5% in year 2 for policy forms:SR-LTCP et al, & GLTC-3-P-xx-01 et al. Form P1-43636-A, et al with 3 members was withdrawn at OCA's request.
    Approved 6/4/2019.

Proposed Effective Date:
The rate increase will apply to certificates on their next premium due date following a notification period at least as long as required by Maryland following approval.

  1. Physicians Mutual Insurance Company
Policy Forms:  P103, P104 -- 9.3% overall average rate increase approval (SERFF: PHYS-131513008)

Approved 4/26/2019.
Proposed Effective Date:
This rate increase will apply to policies on their policy anniversary date following a 60-day policyholder notification period.
  1. John Hancock Life Insurance Company (USA)
Policy Forms:  LTC-06 MD -- 12.5% approval (SERFF: MULF-131481804)

Approved 3/18/2019.
Proposed Effective Date:
These rates will be effective on the next policy anniversary date, following at least a 90 day policyholder notification period.

Long-Term Care Approved Rates for 2018

  ​
  1. ​​​MedAmerica Insurance Company

    Policy Forms:  LTC-LBP9-MD, LTC-CD8-MD, LTC-CD9-MA-MD, NTQ11-337-MA-MD-601, LTQ11-336-MA-MD-601, LTQ11-336-MA-MD-1100, HTQ11-338-MA-MD-601, HTQ11-338-MA-MD-1100 -- 12.5% approval (SERFF: MILL-131620912)

    Approved 12/11/2018
Proposed Effective Date:
The rate increase will apply to policies on their next premium payment date following at least a 60-day policyholder notification period following being filed for use.
  1. CMFG Life Insurance Company

    Policy Form 2006-LTC-COMP; 8.7% increase. (SERFF  CUNA-131038026)

    Policy Forms 2002-LTC-FAC & 2002-LTCR-HCC; 9.4% increase (SERFF CUNA-131037997)

    Approved 12/07/2018
Proposed Effective Date:  This rate will be implemented as soon as possible after approval has been granted as allowed based on regulation. For policies still inside a rate guarantee period, the rate increase will become effective after the rate guarantee period has expired.
  1. Lincoln Benefit Life Company

    Policy Forms:  LB-6301-P-MD, LB-6302-P-MD, LB-6303-P-MD, (Q)&(NQ) -- 10% approval (SERFF: LFCR-131610630)

    Approved 12/06/2018.
Proposed Effective Date:
The rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period after approval.
  1. State Farm Mutual Automobile Insurance Company
     
    Policy Form 97045MD.1; 14.1% average increase (increases range from 0% to 15%) (SERFF  STLH-131001036)

    Policy Form 97059MD;  7.6% average increase (increases range from 0% to 10%)  (SERFF  STLH-130995970)

    Policy Form  97058MD; 9.9% average increase (increases range from 0% to 11.5%)  (SERFF  STLH-130975911)

    Approved 12/03/2018
Proposed Effective Date:  The proposed effective date of the rate increase is approximately 135 days after approval. 
  1. Transamerica Premier Life Insurance Company

    Policy Forms: ML-LTCP TQ (MD) 197 As ML1, ML-LTCP TQ (MD) 600 As MLPool, FTQ (MD) 197 As Flex 2 TQ, and LTC 5 TQ (MD) 900 As LTC 5 TQ -- 15% approval (SERFF: AEGB-131231289)

    Approved 11/29/2018
Proposed Effective Date:
The proposed rate increase will be implemented within 3 months following approval, after fulfillment of all statutory and contractual requirements.
 
  1. Senior Health Insurance Company of Pennsylvania

    Policy Forms 10955, 11001, 10956, CSHIC-5003-MD-2, ATL-FQ-LTC, ATL-HHC-3, ATL-HHC-4, ATL-LTC-1(MD), ATL-LTC-1-MD-93, ATL-LTC-6; 13.4% rate increase for policyholders with a 5% compound lifetime inflation rider (SERFF SHPT-131446922).

    Approved 11/26/2018. For this filing, an option is provided to policyholders to freeze future inflation increases and receive a 40% decrease in their current premium.

    Policy Forms 10618, 10770, 10853, 10855, 10902, 10922, 10955, 10956, 11001, CSHIC-5000, CSHIC-5003, ATL-FQ-LTC, ATL-HHC-1, ATL-HHC-2, ATL-HHC-3, ATL-HHC-4, ATL-LTC-1, ATL-LTC-3, ATL-LTC-6, ACL-LTC-89, WL-NH-225, WL-CAH-231, 2100-5; 14.7% rate increase, phased in at 7.1% annually for two years.  This increase applies for policyholders with non-zero elimination periods who do not have 5% compound lifetime inflation (SERFF SHPT-131436132).
     
    Approved 11/26/2018

    Policy Forms 10618, 10853, 10855, 10902, 10922, 10955, 10956, 11001, CSHIC-5003, ATL-FQ-LTC, ATL-HHC-1, ATL-HHC-2, ATL-HHC-3, ATL-HHC-4, ATL-LTC-1, ATL-LTC-3, ATL-LTC-6, ACL-LTC-89, WL-NH-225, WL-CAH-231, 2100-5; 10.9% rate increase, phased in at 5.3% annually for two years.  This increase applies for policyholders with a 0-day elimination period who do not have 5% compound lifetime inflation (SERFF SHPT-131433314). Approved 11/26/2018.   For this filing, an option is provided to policyholders to downgrade their policy to a 110-day elimination period and receive a 30% decrease in their current premium.
Proposed Effective Date: As soon as possible following approval and fulfillment of all statutory, contractual, and operational requirements.
 
  1. Metropolitan Life Insurance Company

    Policy Form Series: GCLTCAARP-04-OP;  7.06% increase. (SERFF: META-131547763)

    Approved 11/15/2018.
Proposed Effective Date: The rate increase will apply to certificateholders on the anniversary of their original coverage effective date, following at least a 60-day notification period after the increase is approved.
Policy Form Series: G.LTC5398 and G.LTC5498 ;  7.06% increase. (SERFF: META-131547747)

Approved 11/15/2018.
Proposed Effective Date: The rate increase will apply to certificateholders on the anniversary of their original coverage effective date, following at least a 60-day notification period after the increase is approved.
 
Policy Form Series: LTC2-FAC-MD, LTC2-VAL-MD, LTC2-IDEAL-MD, LTC2-PREM-MD;  8.7% increase. (SERFF: META-131547304)

Approved 11/15/2018.
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
Policy Form Series: LTC2-FAC-MD, LTC2-VAL-MD, LTC2-IDEAL-MD, LTC2-PREM-MD;  12.5% increase. (SERFF: META-131547301)

Approved 11/15/2018
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
 
Policy Form Series: LTC-FAC-MD, LTC-VAL-MD, LTC-IDEAL-MD, LTC-PREM-MD;  12.5% increase. (SERFF: META-131547298)

Approved 11/15/2018
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
Policy Form Series: 1LTC-97-MD-1, 1LTC-97-MD-2, 2LTC-97-MD-1, 2LTC-97-MD-2;  8.5% increase. (SERFF: META-131547291)

Approved 11/15/2018
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
 
  1. Metropolitan Life Insurance Company
Policy Form LTC2007 (with policy application dated after April 30, 2009); 5.0% increase. (SERFF: META-131546096).

Approved 11/14/2018
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
  
Policy Forms LTC-MD.02 Ed. 11-91,  LTC-E-MD.02 Ed. 11-91,  LTC-MD.02 (RPU) Ed. 11-91,  LTC-E-MD.02 (RPU) Ed. 11-91,  LTC-MD.02 Ed. 11-96,  LTC-E-MD.02 Ed. 11-96,  LTC-MD.02 (RPU) Ed. 11-96,  LTC-E-MD.02 (RPU) Ed. 11-96,  LTC.03,  TCL-LTC.04 (MD) Ed. 4/00; 9.6% increase. (SERFF: META-131544789)

Approved 11/14/2018
Proposed Effective Date:  This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period following approval.
 
  1. TIAA-CREF Life Insurance Company

    Policy Forms LTC-MD.02 Ed. 11-91,  LTC-E-MD.02 Ed. 11-91,  LTC-MD.02 (RPU) Ed. 11-91,  LTC-E-MD.02 (RPU) Ed. 11-91,  LTC-MD.02 Ed. 11-96,  LTC-E-MD.02 Ed. 11-96,  LTC-MD.02 (RPU) Ed. 11-96,  LTC-E-MD.02 (RPU) Ed. 11-96,  LTC.03,  TCL-LTC.04 (MD) Ed. 4/00; 9.6% increase. (SERFF: META-131547135)

    Approved 11/14/2018
Proposed Effective Date:  This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period following approval.
  1. Teachers Insurance and Annuity Association of America

    Policy Forms LTC-MD.02 Ed. 11-91,  LTC-E-MD.02 Ed. 11-91,  LTC-MD.02 (RPU) Ed. 11-91,  LTC-E-MD.02 (RPU) Ed. 11-91,  LTC-MD.02 Ed. 11-96,  LTC-E-MD.02 Ed. 11-96,  LTC-MD.02 (RPU) Ed. 11-96,  LTC-E-MD.02 (RPU) Ed. 11-96,  LTC.03,  TCL-LTC.04 (MD) Ed. 4/00; 9.6% increase. (SERFF: META-131547124)

    Approved 11/14/2018
Proposed Effective Date:  This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period following approval.
  1. Lincoln National Life Insurance Company

    Policy Forms HL-2500AA (8/90), HL-2950AA (7/92); 5.0% increase. (SERFF: TRST-131168659).

    Approved 11/14/2018
Proposed Effective Date:  The increase will be implemented as soon as possible following approval after fulfillment of all statutory and contractual requirements.
  1. MedAmerica Insurance Company
Policy Form Series: SPL2‐336‐MD -- 4.2% approval (SERFF: TRIP-131520118 )

Approved 11/8/2018.pproved 11/8/2018.
Proposed Effective Date:
apply to policies on their next premium payment date following at least a 60‐ day policyholder notification period following approval.
 
  1. Continental Casualty Company
Policy Form Series: P1-15203, P1-16356, P1-16928, P1-16944, P1-18215, P1-18220, P1-18876, P1-18878, P1-21295, P1-21300, P1-21305, P1-21925, P1-22435, P1-22436, P1-N0022, P1-N0023, P1-N0026, P1-N0027, P1-N0030, P1-N0031, P1-N0034, P1-N0035, P1-N0066 P1-N0070; 15.6% increase -- phased in at 7.5% annually for two years. (SERFF: CNAB-131409199).
Approved 10/4/2018.
Proposed Effective Date:
The rate increase will apply to policies on their next premium due date following a notification period at least as long as required by our state following approval.
  1. Genworth Life Insurance Company:
     
    PrePCS:  Policy Forms 50000, 50001, 50003, 50018, 60394, 60407, 50020, 50021, 50022, 60491, 60494, 7021, 62100; 23.6% increase -- phased in over a two year period – 15% in year one, 7.5% in year two. (SERFF GEFA-131159469)

    PCS II:  Policy Forms 7030R, 7032R, 62171, 62172, 62173; 28.8% increase -- phased in over a two year period – 15% in year one, 12% in year two. (SERFF GEFA-131159459)

    PCS:  Policy Forms 7000AP, 7020BB, 7020V; 32.3% increase -- phased in over a two year period – 15% in year one, 15% in year two. (SERFF GEFA-131159437)

    Choice 2 and Choice 2.1 (AARP Policies): Policy Forms 7044MD, 7044MD Rev; 19.9% increase -- phased in over a two year period – 9.5% in year one, 9.5% in year two. (SERFF GEFA-130998447)

    Choice 2 and Choice 2.1 (Non-AARP Policies): Policy Forms 7042MD, 7044MD, 7042MD Rev, 7044MD Rev; 19.9% increase -- phased in over a two year period – 9.5% in year one, 9.5% in year two. (SERFF GEFA-130998397)

    Choice 1:  Policy Forms 7035 et al; 15% increase. (SERFF GEFA-131159470)

    Approved 9/26/2018
Proposed Effective Date:
This rate increase will apply to policies on their anniversary date of issue or last coverage change, following a minimum 60-day policyholder notification period.
 
  1. Unum Life Insurance Company of America
Policy Form Series: NH5092 et al, LTC5092 et al, LTC94, LTC94Q, LTC99, LTC99Q; 15.6% increase -- phased in at 7.5% annually for two years for policies with uncapped inflation coverage. (SERFF: UNUM-131410665).

Approved 7/3/2018.
Proposed Effective Date:
The rate increase will apply to policies on their policy anniversary date following a 90-day policyholder notification period.
  1. Northwestern Long Term Care Insurance Company
Policy Form​ Series RR.LTC.(0798), RS.LTC.(1101), RS.LTC.(1007), RS.LTC.(0708), & TT.LTC.(1010), ​8.5% overall average rate increase approval (SERFF: NWST-131263159)

Approved​ 6/19/201​8
Proposed Effective Date:
The increase will be effective no sooner than one year after the effective date of the previously approved increase. All policyowners will receive notification of any premium increase at least 60-days prior to the effective date of the increase per regulatory requirements.
 
        2. Bankers Life and Casualty Company
 
Policy Form​ Series GR-N050, GR-N100, GR-N105, GR-N160, GR-N165, GR-N240, GR-N250,  GR-N270, GR-N280, 187R, 206A, 223G, 226A, 226G & 228R, 9% approval (SERFF: BNLB-131315020)

Approved​ 06/19/201​8
Proposed Effective Date:
This rate increase will apply to policies on their next billing date following a 60 day policyholder notification period.
  1. American General Life Insurance Company:
Policy Form​ Series 64028, ​8% approval (SERFF: LTCG-131180280)
 
Approved​ 5/4/201​8 
The proposed effective date:
The proposed effective date is as soon as possible following approval and fulfillment of all statutory and contractual requirements.
  1. John Hancock Life Insurance Company:
     
    Custom Care II & Essential Care II:  Policy Forms LTC-03 MD & BSC-03 MD; 15.6% increase -- phased in at 7.5% annually for two years. (SERFF MULF-131257459).
    Custom Care II (2007):  Policy Form LTC-03 MD (2007); 15.6% increase -- phased in at 7.5% annually for two years. (SERFF MULF-131257459).
    Custom Care II Enhanced (2010):  Policy Form LTC-03 MD 6/10; 5.0% increase (SERFF MULF-131257459).
    Custom Care II Enhanced: Policy Form LTC-03 MD 1/08; 5.0% increase (SERFF MULF-131257459).
    Approved 4/13/2018.
Proposed Effective Date:
These rates will be effective on the next policy anniversary date, following at least a 90 day policyholder notification period.
  1. Lincoln Benefit Life Company:

    Policy Form​ LB-7000-P-MD(Q) & LB-7000-P-MD(NQ), ​5% approval (SERFF LFCR-131298090)

    Approved​ 4/9/201​8
Proposed Effective Date:
This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period after approval.
  1. Brighthouse Life Insurance Company:

    Policy Form​ H-LTC3JP20, et al., ​11.5% approval (SERFF MILL-131114362)
    Policy Form​ H-LTC4JQ9, et al., ​5.0% approval (SERFF MILL-131114339)
    Policy Form​ H-LTC3JQ8, et al., ​5.0% approval (SERFF MILL-131114337)
    Policy Form​ H-LTC2J-30, et al., ​10.0% approval (SERFF MILL-131112553)

    Approved​ 4/6/201​8
Proposed Effective Date:
The rate increase will apply to policies on their billing anniversary date following at least a 60-day policyholder notification period.
 
  1. LifeSecure Insurance Company:

    Policy Form LS-0002, et al.​; ​5% approval (SERFF LFSC-131226285).

    Approved​ 3​/​27/201​8.
Proposed Effective Date:
The rate increase will apply upon approval following an appropriate policyholder notification period.
  1. Physicians Mutual Insurance Company:
     
    Policy Form P145MD, P146MD, P147MD, P148MD (SERFF PHYS-131256231): One average 5% increase.
    Policy Form P103MD,  P104MD (SERFF PHYS-131256076): One average 5% increase.
    Policy Form P130MD,  P131MD (SERFF PHYS-131255832): One 10% increase.

    Approved 03/14/18.
Proposed Effective Date:
This rate increase will apply to policies on their policy anniversary date following a 60-day policyholder notification period.
  1. Brighthouse Life Insurance Company:

    Policy Forms​ H-LTC3J, et al., H-5AI-2, H-COLR-3, H-NF3, H-IBOR​; ​15% approval (SERFF MILL-131114280).

    Approved​ 3​/​5/201​8.
Proposed Effective Date:
The rate increase will apply to policies on their billing anniversary date following a 60-day policyholder notification period.
  1. John Hancock Life Insurance Company:
     
    Group Long Term Care:  Policy Form GPB-SPR-0007.02; Maximum increase of 35.0% -- phased in at a maximum allowable increase of 13.5% annually for two years, then 4.8% in year three. (SERFF MULF-130851517).

    Corporate Choice:  Policy Form P-FACE(2004) MD; 26.6% increase -- phased in at 12.5% annually for two years (SERFF MULF-130851517).

    Additional Consumer Options

    For Group Long Term Care, those policyholders with 5% inflation may reduce their inflation protection to 4.1%, and totally offset the rate increase.

    For Corporate Choice, those policyholders with 5% inflation may reduce their inflation protection to 4.3%, and totally offset the rate increase.

    Approved 1/16/2018.
Proposed Effective Date:
These rates will not be effective until after the company has satisfied the required 90 days advance notice to the policyholder and to the insureds.
  1. ​The Prudential Insurance Company of America:
  • Policy Form  83500 BFW 5018 (et al) (SERFF PRUD-130918840): one 8.7% increase.

    Approved 1/9/2018.
Proposed Effective Date:
This rate revision will be implemented following state approval and a minimum of a 60-day notification to the certificate holder.
 
  1. Unum Life Insurance Company of America:

    Policy Forms
  • ​B.LTC, TQB.LTC, GLTC95, TQGLTC95​; ​5.2% approval (SERFF ​UNUM-130965778).

    Approved​ 1​/​4/201​8.
Proposed Effective Date:
The rate increase will apply to policies on their policy anniversary date following a 60-day policyholder notification period.
  1. MedAmerica Insurance Company:
  • Policy Form  SPL2‐336‐MD (SERFF TRIP-130982246): one 4.3% increase.

    Approved 1/2/2018.
Proposed Effective Date:
This rate increase will apply to policies on their next premium payment date following at least a 60‐day policyholder notification period following approval.

Long-Term Care Approved Rates for 2017

 
​​​MedAmerica Insurance Company:
  1. Policy Form SPL-336 (SERFF MILL-130533302 ): two phased-in 15% increases with the landing spot option.
  • Policy Form LTC-LBP9-MD, LTC-CD8-MD,  LTC-CD9-MD, NTQ11-337-MA-MD-601,  LTQ11-336-MA-MD-601, LTQ11-336-MA-MD-1100, HTQ11-338-MA-MD-601, HTQ11-338-MA-MD-1100 (SERFF MILL-130993131): one 15% increase.

    Approved 12/14/17.
Proposed Effective Date:
This rate increase will apply to policies on their next premium payment date following at least a 60‐day policyholder notification period following approval.
  1. John Hancock Life Insurance Company:
Policy Forms ICC10-LTC-11; 7.5% approval (SERFF MULF-131066170).

Approved 12/5/2017.
Proposed Effective Date:
These rates will be effective on the next policy anniversary date, following at least a 90 day policyholder notification period.
  1. Continental Casualty Company

    Policy Forms P1-N0080-A19, P1-N0081-A19, P1-N0085-A19, P1-N0086-A19, P1-N0095-A19, P1-N0096-A19, P1-N0100-A19, P1-N0101-A19, P1-N0075-A19, P1-N0076-A19, P1-N0090-A19, P1-N0091-A19 (Only policyholders with automatic increase benefit rider) (SERFF # CNAB-130903197): 32.25% increase phased in at 15% annually over two years

    Approved 11/7/2017
Proposed Effective Date:
The rate increase will apply to policies on their next premium due date following a notification period at least as long as required by Maryland regulations.
  1. Principal Life Insurance Company:
     
    Policy Form FR 142 & FR 601 (SERFF TRIP-130609481): two phased-in 15% increases with the landing spot options.

    Policy Form FR 406 (SERFF TRIP-130609234): two phased-in 15% increases with the landing spot options.

    Approved 10/03/2017.
Proposed Effective Date:
This rate increase will apply to policies on their next premium payment date following at least a 60‐ day policyholder notification period following approval
  1. Transamerica Life Insurance Company:
     
    Policy Form FTQ (MD) 197 as Flex 2 TQ Series, LTC 3 (MD) 1091 (REV92), LTC 3R (MD) 1091 (REV92) as LTC 3 / 4 Series, LTC 5 TQ (MD) 1096 as LTC 5 TQ Series, LTCP (MD) 690 as Golden Care Series, GCPRO-III TQ LTC (MD) 497 and GCPRO-III TQ HHC (MD) 497 as Protector III TQ Series, KLTCP 1 (MD) 690 as Future Care Series, LI-LTCP (MD) 192 and LI-LTCP (MD2) 192 as Future Care 2 NTQ Series, LI-LTCP TQ (MD) 197 as Future Care 2 TQ Series, LI-LTCP TQ (MD) 600 as Future Care Pool TQ Series, LTC-104-194-MD, LTC-105-194-MD, LTC-106-194-MD as TransCare Companion Series, LTC 124-197-MD, LTC 125-197-MD, LTC 126-197-MD as TransCare TQ Series, LTC 304-198-MD, LTC 305-198-MD as TransGenerations Series 3122 (00) 288 (3132 (00) 288) as LTC GRP Series, GLTP 2 1289 & GHHC 1 189 (GLTC 2 1290 & GHHC 1 189 CERT) as LTC 2 GRP Series, GLTP 3 1091 & GLTP 3R 1091 (GLTC 3 1091 & GLTC 3R 1091) as LTC 3/4 GRP Series  (SERFF AEGJ-130628892): one15% increase.

    Policy Form GP001 796 (GC001-NH (MD) 796, GC001-LTC (MD) 796, GC001-HCC (MD) 796) (SERFF AEGJ-130630263): one15% increase.

    Policy Form TLC 1-FP (MD) 402, TOL 1-FP (MD) 402 and LI 1-FP (MD) 402 (SERFF AEGJ-130643915): one15% increase.

    Approved 10/03/17.
Proposed Effective Date:
The proposed rate increase will be implemented following approval and after fulfillment of all statutory and contractual requirements.
  1. Metropolitan Life Insurance Company

    Policy Form LTC2-FAC-MD, LTC2-VAL-MD, LTC2-IDEAL-MD, LTC2-PREM-MD (Policies with application dates after January 15, 2009) (SERFF META-130997063): one15% increase.

    Approved 10/10/2017.
Proposed Effective Date:
This rate increase will become effective on each policy's modal premium due date (monthly,quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
  1. Policy Form  LTC2007 (with policy application dated after April 30, 2009) (SERFF META-131132087): one 15% increase.
    Policy Form G.LTC1697 (including G.LTC5398 and G.LTC5498 in Maryland) (SERFF META-131016108): one 15% increase.
    Policy Form  G.LTC1697 (including GCLTCAARP04-OP in Maryland) (SERFF META-131016043): one 15% increase.
    Policy Form  G.LTC1697 (including GCLTCAARP06-FC in Maryland) (SERFF META-131014399): one 15% increase.

    Approved 10/10/17.
Proposed Effective Date:
The rate increase will apply to certificate holders on the anniversary of their original coverage effective date, following at least a 60-day notification period after the increase is approved.
  1. Kanawha Insurance Company:

    Policy Forms 82000 1/01 MD, 82120 9/01; 32.25% increase -- phased-in at 15% annually over two years (SERFF HUMA-130810366)

    Approved 10/11/17
Proposed Effective Date: This rate increase will apply to policies on their next premium payment date following at least a 45-day policyholder notification period following approval.
Policy Forms 80650 1/97 MD, 80880 NTQ 1/98 MD; 32.25% Policy Forms 80650 1/97 MD, 80880 NTQ 1/98 MD; 32.25% increase phased-in at 15% annually over two years (SERFF HUMA-130807445)

Approved 10/11/17
Proposed Effective Date: This rate increase will apply to policies on their next premium payment date following at least a 45-day policyholder notification period following approval.
Additional Consumer Options

For those policyholders with 5% inflation, the rate increase may be totally offset by reducing the inflation to 0%. All daily benefit amounts would remain at the current level. 
  1. Maryland Life & Health Insurance Guaranty Corporation on behalf of Penn Treaty Network America Insurance Company:

    Policy Forms 2400 et al, 2600 et al, 6000 et al, 6500 et al, HHC et al, HHC92 et al, IL94 et al, LTC et al, LTC-300 et al, LTC91 et al, LTC94 et al, NHP et al; 0-88.9% approval (phased-in at no more than 15% annually) (SERFF LTCG-130993460).

    Approved 10/04/2017.
Proposed Effective Date: These rates will be effective on the next policy anniversary date, following at least a 60 day policyholder notification period. 
  1. John Hancock Life Insurance Company:
     
    Advantage Series:  Policy Forms LTC-MD-91, NH-MD-91, LTC-94 MD, LTC-94-MD 9/94, NH-94-MD; 32.25% increase -- phased in at 15% annually over two years (SERFF MULF-130682001).

    Gold Series:  Policy Forms LTC-96 MD 9/96, LTC-96 MD 3/97, LTC-96CL MD 9/96, LTC-96CL MD 3/97, NH-99 MD 4/99, LTC2000 MD 4/00; 40.5% increase -- phased in at 12% annually over three years (SERFF MULF-130682001).

    Custom Care Series:  Policy Forms LTC-02MD, BSC-02 MD; 32.25% increase -- phased in at 15% annually over two years (SERFF MULF-130682001).

    Additional Consumer Options

    For the Advantage series, those policyholders with 5% simple or compound inflation may reduce their inflation protection to 3.9%, and totally offset the rate increase.

    For the Gold series, those policyholders with 5% simple or compound inflation may reduce their inflation protection to 4.1%, and totally offset the rate increase.

    For the Custom Care series, those policyholders with 5% simple or compound inflation may reduce their inflation protection to 4.3%, and totally offset the rate increase.

    Approved 8/1/2017.
Proposed Effective Date: These rates will be effective on the next policy anniversary date, following at least a 60 day policyholder notification period.
  1. SENIOR HEALTH INSURANCE COMPANY OF PENNSYLVANIA:
    Policy Forms 10955, 11001, 10956, CSHIC-5003-MD-2, ATL-FQ-LTC, ATL-HHC-3, ATL-HHC-4, ATL-LTC-1(MD), ATL-LTC-1-MD-93, ATL-LTC-6; 15% rate increase for policyholders with a 5% compound lifetime inflation rider approval (SERFF SHPT-130727220). Approved 7/21/2017.
Proposed Effective Date: As soon as possible following approval and fulfillment of all statutory, contractual, and operational requirements.
  1. Lincoln National Life Insurance Company:
    Policy Forms HL-2500AA, HL-2525AA, HL-2550AA, HL-2950AA; 15% approval (SERFF TRST-130818155). Approved 6/29/17.
Proposed Effective Date: This rate increase will be implemented as soon as possible following approval after fulfillment of all statutory and contractual requirements.
  1. John Alden Life Insurance Company:
    Policy Forms J-5762-P-MD, J-5762-R1-MD, J-5875-P-MD, J-5875-P-MD (Q)&(NQ), J-5875-R1-MD (Q)&(NQ), J-5875-R2-MD (Q)&(NQ); 15% approval (SERFF LFCR-130749238).
    Approved 3/29/17. 
Proposed Effective Date: This rate increase will apply to policies on the next policy anniversary date  following a 60-day policy owner notification period. 
  1. Northwestern Long Term Care Insurance Company
    Policy Form RR.LTC.(0798): 14.6% rate increase on average
    Policy Forms RS.LTC.(1101), RS.LTC.(1007), & RS.LTC.(0708): 14.5% rate increase on average
    Policy Form TT.LTC.(1010): 14.5% rate increase on average;  (SERFF NWST-130590237). Approved 3/1/17.
Proposed Effective Date: This rate increase will apply to policies on the next policy anniversary date after receiving state approval and following a 60-day policy owner notification period.
  1. Bankers Life and Casualty Company: Policy Forms GR-N620/GR-N630 GR-N640/GR-N670 GR-N650/GR-N680 GR-N690/GR-N694; 15% approval (SERFF BNLB-130786695). Approved 3/1/17.
Proposed Effective Date: This rate increase will be implemented to policies on their next billing date following a 45 day policyholder notification period.
  1. Physicians Mutual Insurance Company: Policy Forms P145MD, P146MD, P147MD, P148MD; 12% on average approval (SERFF PHYS-130755742). Approved 2/14/17.
  2. Physicians Mutual Insurance Company: Policy Forms P103MD, P104MD; 13% on average approval (SERFF PHYS-130755481). Approved 2/14/17.
  3. Physicians Mutual Insurance Company: Policy Forms P130MD, P131MD; 15% approval (SERFF PHYS-130732148). Approved 2/14/17.
  4. Physicians Mutual Insurance Company: Policy Forms P105MD; 15% approval (SERFF PHYS-130755715). Approved 2/14/17.
Proposed Effective Date: This rate increase will apply to policies on their anniversary date following a 60-day policyholder notification period. (All 4 Filings).
  1. Genworth Life Insurance Company: AARP Policies; Policy Forms 7044MD and 7044MD Rev; 15% approval (SERFF GEFA-130690941). Approved 1/23/17.
  2. Genworth Life Insurance Company: Non-AARP Policies; Policy Forms 7042MD, 7044MD, 7042MD Rev, 7044MD Rev; 15% approval (SERFF GEFA-130546414). Approved 1/23/17.
Proposed Effective Date: This rate increase will apply to policies on their next Anniversary Date of issue or last coverage change, following a minimum 60-day policyholder notification period. (Both Filings).​

Long-Term Care Hearing Information Previous Years (2016-2022)

 

Actuarial Memoranda
August 28, 2023
May 23, 2023

Long-Term Care Hearing Scheduled for May 23, 2023
Meeting Agenda
View hearing HERE​

Actuarial Memoranda



November 28, 2022
Long-Term Care Hearing Scheduled for November 28, 2022
View video of hearing HERE

August 16, 2022

View video of hearing HERE

Actuarial Memoranda
February 11, 2022

November 10, 2021
 

Agenda
Video


Actuarial Memoranda

 
August 11, 2021
May 20, 2021

Long-Term Care Hearing Scheduled for May 20, 2021
Agenda
Video link to hearing
Written Comments
Full Transcript

Actuarial Memoranda
 
November 18, 2020
 

August 18, 2020
 
Actuarial Memoranda

May 13, 2020

Long-Term Care Hearing Scheduled for May 13, 2020
 
Full Transcript
Chief Actuary Slides
Written Comments

Actuarial Memoranda

John Hancock Life Insurance Company

Prudential Insurance Company of America

UNUM Life Insurance Company of America

 
May 14, 2019

Long-Term Care Hearing Scheduled for May 14, 2019
Public Agenda
Full Transcript
Written Comments

Actuarial Memoranda
 
Allianz Life Insurance Company of North America
Prudential Insurance Company of America

 


Actuarial Memoranda

Continental Casualty Company

Genworth Life Insurance Company

  • 7035

Physicians Mutual Insurance Company

Transamerica Life Insurance Company

November 5, 2018

Long-Term Care Hearing Scheduled for November 5, 2018
Public Agenda
Full Transcript

Actuarial Memoranda

Lincoln Benefit Life

Lincoln National Life

Medamerica

Metropolitan Life

State Farm

Teachers Insurance

TIAA CREF

August 20, 2018

 
Actuarial Memoranda

John Hancock

Massachusetts Mutual

MedAmerica

Senior


May 7, 2018

Continental

Northwestern

UNUM Life

February 12, 2018

Long-Term Care Hearing Scheduled for February 12, 2018
Public Agenda
Full Transcript
Written Comments
Actuarial Memoranda

John Hancock

Life Secure

Lincoln Benefit

Physicians Mutual

Transamerica


November 6, 2017
 
 
American General

Brighthouse Life

Genworth Life

John Hancock

August 28, 2017

Long-Term Care Hearing Scheduled for August 28, 2017
Public AGENDA
Full Transcript
Written Comments
Actuarial Memoranda

CMFG

Continental Casualty

MedAmerica

Metropolitan Life

Penn Treaty

May 15, 2017

Long-Term Care Hearing Scheduled for May 15, 2017
Agenda
Written Comments: PrudentialMyron MillerClarke Ellis
Full Transcript
Actuarial Memoranda

John Hancock

Kanawha

Lincoln National

Medamerica

Prudential

UNUM

March 6, 2017

Long-Term Care Briefing Scheduled for March 6, 2017
Public Agenda
Full Transcript
Written Comments

January 9, 2017

Long-Term Care Hearing Scheduled for January 9, 2017
Long-Term Care Insurance: Basic Pricing and Rate Increase Concepts (Society of Acturary Presentation) January 9, 2017
Written Testimony Received as of January 9, 2017
Full Transcript
Written Testimony (ACLI January 23, 2017)
Actuarial Memoranda

Bankers Life

John Alden

Northwestern

Physicians Mutual

Senior Health

October 27, 2016

Long-Term Care Insurance Rate Increase Public Hearing Held October 27, 2016
Transcript
Written Testimony Received as of October 21, 2016
Written Testimony Received on or after October 27, 2016
Long-Term Care Insurance: Basic Pricing and Rate Increase Concepts (Society of Actuaries Presentation)

April 28, 2016

Long-Term Care Insurance Public Informational Hearing Held April 28, 2016
Transcript and Affidavit of Corrections
Written Testimony​ ​

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