The Maryland Insurance Administration will conduct a public hearing on specific rate increase requests being made by certain Long-Term Care Insurance carriers operating in Maryland. The hearing will focus on several rate increase requests before the Maryland Insurance Administration. In the individual long-term care market, these include requests from MedAmerica Insurance Company, Allianz Life Insurance Company of North America and Genworth Life Insurance Company. In the group long-term care market, these include requests from Metropolitan Life Insurance Company. The purpose of the hearing is for insurance company officials to explain their reasons for the rate increases. Interested stakeholders will also have the opportunity to provide comments at the hearing. Prior to the hearing, copies of each company’s actuarial memorandum will be posted to the Maryland Insurance Administration’s website.
Form numbers impacted by the rate requests are outlined below:
MedAmerica Insurance Company: SPL-336, 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
Allianz Life Insurance Company of North America: 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)
Metropolitan Life Insurance Company: G.LTC5398, G.LTC5498, GCLTCAARP-04-OP
Genworth Life Insurance Company: 7030R, 7032R, 7000AP, 7020BB, 7020V, 7042MD, 7044MD, 7042MD Rev, 7044MD Rev
Given the current COVID-19 situation, to protect the public health, safety, and welfare, the hearing will be held via conference call only.
Click HERE to view the hearing, conducted August 18, 2020.
Information for the Maryland Relay Service can be found at: doit.maryland.gov/mdrelay
If you wish to provide oral testimony, please RSVP to Nancy Muehlberger. Testimony will only be heard via the telephone to those who have RSVP’d in advance of the public hearing. Interested parties are also encouraged to submit written comments in advance of the hearing date. Written comments and RSVPs should be sent to Nancy Muehlberger by August 11, 2020, either by email to email@example.com
or by mail to 200 St. Paul Place, Suite 2700, Baltimore, MD 21202 or by fax to 410-468-2038.
Questions regarding this hearing should be directed to Nancy Muehlberger by phone to 410-468-2050, or by e-mail to firstname.lastname@example.org
Complaints regarding individual policy premium rates, premium increases or particular policy provisions should be directed to the Consumer Complaints Unit. Please call 410-468-2244 or visit the following website for more information on how to file a complaint: http://insurance.maryland.gov/Consumer/pages/FileAComplaint.aspx