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 Kanawha Insurance Company, Lincoln National Life Insurance Company and MedAmerica Insurance Company. In the group long-term care market, these include requests from John Hancock Life Insurance Company, The Prudential Insurance Company of America and Unum Life Insurance Company of America. The purpose of the hearing is for insurance company officials to explain their reasons for the rate increases. Commissioner Redmer will also listen to comments from consumers at the hearing. Prior to the hearing, copies of each company’s actuarial memorandum will be posted to the Maryland Insurance Administration’s website.
The hearing will be held at the following time and location:
Monday, May 15, 2017
10:00 A.M. to 12:00 P.M.
Maryland Insurance Administration, 24th Floor, Hearing Room
200 St. Paul Place.
Baltimore, MD, 21202
For those individuals who are unable to attend, the Administration will be live-streaming the hearing via Facebook Live on the Administration’s Facebook page and will also provide a conference call dial-in. See the information below:
Live-streaming of the hearing via on the Maryland Insurance Administration’s Facebook page:
www.facebook.com/MDInsuranceAdmin
Conference Call Line:
Number: 866-247-6034
Code: 1573490062
If you plan on attending, please RSVP to Nancy Muehlberger. Interested parties are also encouraged to submit written comments. Written comments and RSVPs should be sent to Nancy Muehlberger by May 8, 2017, 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.
