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 and Genworth Life Insurance Company. In the group long-term care market, these include requests from Genworth 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: SPL2‐336‐MD
Genworth Life Insurance Company: 7052MD, 7046MD
Given the current COVID-19 situation, to protect the public health, safety, and welfare, the hearing will be held via conference call.
The hearing will be held:
Wednesday, November 18, 2020
12:00 P.M. to 3:00 P.M.
Conference Call Line:
Number: (415) 655-0001
Code: 172 754 3386
Information for the Maryland Relay Service can be found at doit.maryland.gov/mdrelay
For those who would like to participate via their computer, the web link is:
https://marylandinsurance.webex.com/marylandinsurance/onstage/g.php?MTID=e98b548c0fe32c4f7be6a4120a51076e1
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 11, 2020, 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.
