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 rate increase requests from four carriers in the individual long-term care market before the Maryland Insurance Administration. Four carriers are: LifeSecure Insurance Company, Lincoln National Life Insurance Company, Mutual of Omaha Insurance Company, and United of Omaha 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:
LifeSecure Insurance Company: LS-0002
Lincoln National Life Insurance Company: HL-2500MD, HL-2525MD, HL-2550AA, HL-2950MD
Mutual of Omaha Insurance Company: LTC04I, LTC04I7, LTC09M
United of Omaha Life Insurance Company: LTC06UI, LTC09U
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:
Wednesday, November 10, 2021
12:00 P.M. to 3:00 P.M.Agenda
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 November 3, 2021, 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.
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