Long-Term Care Hearing May 20, 2021

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 Provident Life and Accident Insurance Company and Genworth Life Insurance Company. The purpose of the hearing is for insurance company officials to explain their reasons for the rate increases and to explain the new benefit options. 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. 
In addition, RiverSource Life Insurance Company is not proposing to increase rates, but have filed for new benefit reduction options for policies already inforce.
Form numbers impacted by the filings are outlined below:
Provident Life and Accident Insurance Company:  RLTC03, RLTCP03, LTC03, LTCP03, LTCT03
RiverSource Life Insurance Company: 30225-MD, 30225-MD1, 30225A-MD1, 30160A-MD
Genworth Life Insurance Company: 7035 et al
Given the current COVID-19 situation, to protect the public health, safety, and welfare, the hearing will be held via Zoom.
The hearing will be held:

Thursday, May 20, 2021
2:30 P.M. to 5:30 P.M.

Dial-in Information:
Dial-In: (833) 568-8864 (Toll Free)
Webinar ID: 160 927 7991
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 May 13, 2021, 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.

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