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, this include a requests from Mutual of Omaha Insurance Company, The Prudential Insurance Company of America and Transamerica Life Insurance Company. In the group long-term care market, this includes a request from Metropolitan Life Insurance Company and The Prudential Insurance Company of America. The purpose of the hearing is for insurance company officials to explain the reasons for the rate increases, and for the MIA to consider whether the proposed rate increase is in compliance with Maryland's laws and regulations relating to long-term care insurance. Interested stakeholders will also have the opportunity to provide comments at the hearing. Prior to the hearing, copies of each company's actuarial memorandum will be posted to the Maryland Insurance Administration's website.
Form numbers impacted by the rate request are outlined below:
Metropolitan Life Insurance Company: G.LTC1697, G.LTC5398, and G.LTC5498
Mutual of Omaha Insurance Company: LTC13 (ICC13-LTC13 and ICC13-LTC13-AG)
The Prudential Insurance Company of America: 83500 BFW 5018, 83500 COV 5030, 83500 GR 1067, GRP 113252REV, GRP 113252, GRP113252ED 05-2010, GRP 112608, and 83500 BFW 5018
Transamerica Life Insurance Company: ICC13 TLC-4
The hearing will be held via Zoom.
Tuesday, June 10, 2025 01:00 PM Eastern Time (US and Canada)
1:00 P.M. to 4:00 P.M.
The Zoom dial-in information is below:
Dial-in Information:
Zoom Gov link: https://maryland-insurance.zoomgov.com/j/1617657827
Dial-In: (646) 828-7666
Webinar ID: 161 765 7827
Information for the Maryland Relay Service can be found at doit.maryland.gov/mdrelay
If you wish to provide oral testimony, please RSVP to Nancy Muehlberger. Testimony will only be heard from those who have RSVP'd in advance of the public hearing. Interested parties are also encouraged to submit written comments in advance of the hearing date. Written comments and RSVPs should be sent to Nancy Muehlberger by June 6, 2025, either by email to longtermcare.mia@maryland.gov or by mail to 200 St. Paul Place, Suite 2700, Baltimore, MD 21202 or by fax to 410-468-2038.
Questions regarding this hearing should be directed to Nancy Muehlberger by phone to 410-468-2050, or by e-mail to nancy.muehlberger@maryland.gov.
Complaints regarding individual policy premium rates, premium increases or particular policy provisions should be directed to the Consumer Complaints Unit. Please call 410-468-2244 or visit the following website for more information on how to file a complaint: http://insurance.maryland.gov/Consumer/pages/FileAComplaint.aspx.
