Long-Term Care Insurance


Pursuant to House Bill 493, which became effective during the 2017 legislative session, long-term care insurers are required to provide a one-time notice to their insureds advising that information about long-term care rate requests may be found on this web page. Receiving this notice does not necessarily imply that your long-term care insurance company is requesting a rate increase at this time. To determine if your long-term care insurance company is requesting an increase, please look under the "Long-Term Care Hearing Information" and the "Long-Term Care Rate Information" tabs below. To be notified of future rate hearings, rate approvals or any other changes made to this web page, please click "Subscribe to this page" next to the red envelope. 

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Long-Term Care Hearing Information

 
November 5, 2018
Long-Term Care Hearing Scheduled for November 5, 2018
Public Agenda
Full Transcript

Actuarial Memoranda

Lincoln Benefit Life

Lincoln National Life

Medamerica

Metropolitan Life

State Farm

Teachers Insurance

TIAA CREF

August 20, 2018

 
Actuarial Memoranda

John Hancock

Massachusetts Mutual

MedAmerica

Senior


May 7, 2018

Continental

Northwestern

UNUM Life

February 12, 2018

Long-Term Care Hearing Scheduled for February 12, 2018
Public Agenda
Full Transcript
Written Comments
Actuarial Memoranda

John Hancock

Life Secure

Lincoln Benefit

Physicians Mutual

Transamerica


November 6, 2017
 
 
American General

Brighthouse Life

Genworth Life

John Hancock

August 28, 2017


Long-Term Care Hearing Scheduled for August 28, 2017
Public AGENDA
Full Transcript
Written Comments
Actuarial Memoranda

CMFG

Continental Casualty

MedAmerica

Metropolitan Life

Penn Treaty

May 15, 2017


Long-Term Care Hearing Scheduled for May 15, 2017
Agenda
Written Comments: Prudential, Myron Miller, Clarke Ellis
Full Transcript
Actuarial Memoranda

John Hancock

Kanawha

Lincoln National

Medamerica

Prudential

UNUM

March 6, 2017


Long-Term Care Briefing Scheduled for March 6, 2017
Public Agenda
Full Transcript
Written Comments

January 9, 2017

Long-Term Care Hearing Scheduled for January 9, 2017
Long-Term Care Insurance: Basic Pricing and Rate Increase Concepts (Society of Acturary Presentation) January 9, 2017
Written Testimony Received as of January 9, 2017
Full Transcript
Written Testimony (ACLI January 23, 2017)
Actuarial Memoranda

Bankers Life

John Alden

Northwestern

Physicians Mutual

Senior Health

October 27, 2016


Long-Term Care Insurance Rate Increase Public Hearing Held October 27, 2016
Transcript
Written Testimony Received as of October 21, 2016
Written Testimony Received on or after October 27, 2016
Long-Term Care Insurance Rate Review Process - Maryland (Sarah Li, Chief Actuary, presentation)
Long-Term Care Insurance: Basic Pricing and Rate Increase Concepts (Society of Actuaries Presentation)

April 28, 2016


Long-Term Care Insurance Public Informational Hearing Held April 28, 2016
Transcript and Affidavit of Corrections
Written Testimony​ 

Long-Term Care Rate Information

 

Approved Rates for 2018

  1. CMFG Life Insurance Company

    Policy Form 2006-LTC-COMP; 8.7% increase. (SERFF  CUNA-131038026)

    Policy Forms 2002-LTC-FAC & 2002-LTCR-HCC; 9.4% increase (SERFF CUNA-131037997)

    Approved 12/07/2018

Proposed Effective Date:  This rate will be implemented as soon as possible after approval has been granted as allowed based on regulation. For policies still inside a rate guarantee period, the rate increase will become effective after the rate guarantee period has expired.

  1. Lincoln Benefit Life Company

    Policy Forms:  LB-6301-P-MD, LB-6302-P-MD, LB-6303-P-MD, (Q)&(NQ) -- 10% approval (SERFF: LFCR-131610630)

    Approved 12/06/2018.
Proposed Effective Date:
The rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period after approval.
  1. State Farm Mutual Automobile Insurance Company
     
    Policy Form 97045MD.1; 14.1% average increase (increases range from 0% to 15%) (SERFF  STLH-131001036)

    Policy Form 97059MD;  7.6% average increase (increases range from 0% to 10%)  (SERFF  STLH-130995970)

    Policy Form  97058MD; 9.9% average increase (increases range from 0% to 11.5%)  (SERFF  STLH-130975911)

    Approved 12/03/2018

Proposed Effective Date:  The proposed effective date of the rate increase is approximately 135 days after approval. 

  1. Transamerica Premier Life Insurance Company

    Policy Forms: ML-LTCP TQ (MD) 197 As ML1, ML-LTCP TQ (MD) 600 As MLPool, FTQ (MD) 197 As Flex 2 TQ, and LTC 5 TQ (MD) 900 As LTC 5 TQ -- 15% approval (SERFF: AEGB-131231289)

    Approved 11/29/2018
Proposed Effective Date:
The proposed rate increase will be implemented within 3 months following approval, after fulfillment of all statutory and contractual requirements.
 
  1. Senior Health Insurance Company of Pennsylvania

    Policy Forms 10955, 11001, 10956, CSHIC-5003-MD-2, ATL-FQ-LTC, ATL-HHC-3, ATL-HHC-4, ATL-LTC-1(MD), ATL-LTC-1-MD-93, ATL-LTC-6; 13.4% rate increase for policyholders with a 5% compound lifetime inflation rider (SERFF SHPT-131446922).

    Approved 11/26/2018. For this filing, an option is provided to policyholders to freeze future inflation increases and receive a 40% decrease in their current premium.

    Policy Forms 10618, 10770, 10853, 10855, 10902, 10922, 10955, 10956, 11001, CSHIC-5000, CSHIC-5003, ATL-FQ-LTC, ATL-HHC-1, ATL-HHC-2, ATL-HHC-3, ATL-HHC-4, ATL-LTC-1, ATL-LTC-3, ATL-LTC-6, ACL-LTC-89, WL-NH-225, WL-CAH-231, 2100-5; 14.7% rate increase, phased in at 7.1% annually for two years.  This increase applies for policyholders with non-zero elimination periods who do not have 5% compound lifetime inflation (SERFF SHPT-131436132).
     
    Approved 11/26/2018

    Policy Forms 10618, 10853, 10855, 10902, 10922, 10955, 10956, 11001, CSHIC-5003, ATL-FQ-LTC, ATL-HHC-1, ATL-HHC-2, ATL-HHC-3, ATL-HHC-4, ATL-LTC-1, ATL-LTC-3, ATL-LTC-6, ACL-LTC-89, WL-NH-225, WL-CAH-231, 2100-5; 10.9% rate increase, phased in at 5.3% annually for two years.  This increase applies for policyholders with a 0-day elimination period who do not have 5% compound lifetime inflation (SERFF SHPT-131433314). Approved 11/26/2018.   For this filing, an option is provided to policyholders to downgrade their policy to a 110-day elimination period and receive a 30% decrease in their current premium.
Proposed Effective Date: As soon as possible following approval and fulfillment of all statutory, contractual, and operational requirements.
 
  1. Metropolitan Life Insurance Company

    Policy Form Series: GCLTCAARP-04-OP;  7.06% increase. (SERFF: META-131547763)

    Approved 11/15/2018.

Proposed Effective Date: The rate increase will apply to certificateholders on the anniversary of their original coverage effective date, following at least a 60-day notification period after the increase is approved.

Policy Form Series: G.LTC5398 and G.LTC5498 ;  7.06% increase. (SERFF: META-131547747)

Approved 11/15/2018.
Proposed Effective Date: The rate increase will apply to certificateholders on the anniversary of their original coverage effective date, following at least a 60-day notification period after the increase is approved.
 
Policy Form Series: LTC2-FAC-MD, LTC2-VAL-MD, LTC2-IDEAL-MD, LTC2-PREM-MD;  8.7% increase. (SERFF: META-131547304)

Approved 11/15/2018.
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
Policy Form Series: LTC2-FAC-MD, LTC2-VAL-MD, LTC2-IDEAL-MD, LTC2-PREM-MD;  12.5% increase. (SERFF: META-131547301)

Approved 11/15/2018
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
 
Policy Form Series: LTC-FAC-MD, LTC-VAL-MD, LTC-IDEAL-MD, LTC-PREM-MD;  12.5% increase. (SERFF: META-131547298)

Approved 11/15/2018

Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.

Policy Form Series: 1LTC-97-MD-1, 1LTC-97-MD-2, 2LTC-97-MD-1, 2LTC-97-MD-2;  8.5% increase. (SERFF: META-131547291)

Approved 11/15/2018
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
 
  1. Metropolitan Life Insurance Company
Policy Form LTC2007 (with policy application dated after April 30, 2009); 5.0% increase. (SERFF: META-131546096).

Approved 11/14/2018
Proposed Effective Date: This rate increase will become effective on each policy's modal premium due date (monthly, quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
  
Policy Forms LTC-MD.02 Ed. 11-91,  LTC-E-MD.02 Ed. 11-91,  LTC-MD.02 (RPU) Ed. 11-91,  LTC-E-MD.02 (RPU) Ed. 11-91,  LTC-MD.02 Ed. 11-96,  LTC-E-MD.02 Ed. 11-96,  LTC-MD.02 (RPU) Ed. 11-96,  LTC-E-MD.02 (RPU) Ed. 11-96,  LTC.03,  TCL-LTC.04 (MD) Ed. 4/00; 9.6% increase. (SERFF: META-131544789)

Approved 11/14/2018
Proposed Effective Date:  This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period following approval.
 
  1. TIAA-CREF Life Insurance Company

    Policy Forms LTC-MD.02 Ed. 11-91,  LTC-E-MD.02 Ed. 11-91,  LTC-MD.02 (RPU) Ed. 11-91,  LTC-E-MD.02 (RPU) Ed. 11-91,  LTC-MD.02 Ed. 11-96,  LTC-E-MD.02 Ed. 11-96,  LTC-MD.02 (RPU) Ed. 11-96,  LTC-E-MD.02 (RPU) Ed. 11-96,  LTC.03,  TCL-LTC.04 (MD) Ed. 4/00; 9.6% increase. (SERFF: META-131547135)

    Approved 11/14/2018

Proposed Effective Date:  This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period following approval.

  1. Teachers Insurance and Annuity Association of America

    Policy Forms LTC-MD.02 Ed. 11-91,  LTC-E-MD.02 Ed. 11-91,  LTC-MD.02 (RPU) Ed. 11-91,  LTC-E-MD.02 (RPU) Ed. 11-91,  LTC-MD.02 Ed. 11-96,  LTC-E-MD.02 Ed. 11-96,  LTC-MD.02 (RPU) Ed. 11-96,  LTC-E-MD.02 (RPU) Ed. 11-96,  LTC.03,  TCL-LTC.04 (MD) Ed. 4/00; 9.6% increase. (SERFF: META-131547124)

    Approved 11/14/2018

Proposed Effective Date:  This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period following approval.

  1. Lincoln National Life Insurance Company

    Policy Forms HL-2500AA (8/90), HL-2950AA (7/92); 5.0% increase. (SERFF: TRST-131168659).

    Approved 11/14/2018

Proposed Effective Date:  The increase will be implemented as soon as possible following approval after fulfillment of all statutory and contractual requirements.

  1. MedAmerica Insurance Company

Policy Form Series: SPL2‐336‐MD -- 4.2% approval (SERFF: TRIP-131520118 )

Approved 11/8/2018.pproved 11/8/2018.

Proposed Effective Date:
apply to policies on their next premium payment date following at least a 60‐ day policyholder notification period following approval.
 
  1. Continental Casualty Company
Policy Form Series: P1-15203, P1-16356, P1-16928, P1-16944, P1-18215, P1-18220, P1-18876, P1-18878, P1-21295, P1-21300, P1-21305, P1-21925, P1-22435, P1-22436, P1-N0022, P1-N0023, P1-N0026, P1-N0027, P1-N0030, P1-N0031, P1-N0034, P1-N0035, P1-N0066 P1-N0070; 15.6% increase -- phased in at 7.5% annually for two years. (SERFF: CNAB-131409199).
Approved 10/4/2018.
Proposed Effective Date:
The rate increase will apply to policies on their next premium due date following a notification period at least as long as required by our state following approval.
  1. Genworth Life Insurance Company:
     
    PrePCS:  Policy Forms 50000, 50001, 50003, 50018, 60394, 60407, 50020, 50021, 50022, 60491, 60494, 7021, 62100; 23.6% increase -- phased in over a two year period – 15% in year one, 7.5% in year two. (SERFF GEFA-131159469)

    PCS II:  Policy Forms 7030R, 7032R, 62171, 62172, 62173; 28.8% increase -- phased in over a two year period – 15% in year one, 12% in year two. (SERFF GEFA-131159459)

    PCS:  Policy Forms 7000AP, 7020BB, 7020V; 32.3% increase -- phased in over a two year period – 15% in year one, 15% in year two. (SERFF GEFA-131159437)

    Choice 2 and Choice 2.1 (AARP Policies): Policy Forms 7044MD, 7044MD Rev; 19.9% increase -- phased in over a two year period – 9.5% in year one, 9.5% in year two. (SERFF GEFA-130998447)

    Choice 2 and Choice 2.1 (Non-AARP Policies): Policy Forms 7042MD, 7044MD, 7042MD Rev, 7044MD Rev; 19.9% increase -- phased in over a two year period – 9.5% in year one, 9.5% in year two. (SERFF GEFA-130998397)

    Choice 1:  Policy Forms 7035 et al; 15% increase. (SERFF GEFA-131159470)

    Approved 9/26/2018

Proposed Effective Date:
This rate increase will apply to policies on their anniversary date of issue or last coverage change, following a minimum 60-day policyholder notification period.

 

  1. Unum Life Insurance Company of America
Policy Form Series: NH5092 et al, LTC5092 et al, LTC94, LTC94Q, LTC99, LTC99Q; 15.6% increase -- phased in at 7.5% annually for two years for policies with uncapped inflation coverage. (SERFF: UNUM-131410665).

Approved 7/3/2018.
Proposed Effective Date:
The rate increase will apply to policies on their policy anniversary date following a 90-day policyholder notification period.
  1. Northwestern Long Term Care Insurance Company
Policy Form​ Series RR.LTC.(0798), RS.LTC.(1101), RS.LTC.(1007), RS.LTC.(0708), & TT.LTC.(1010), ​8.5% overall average rate increase approval (SERFF: NWST-131263159)

Approved​ 6/19/201​8
Proposed Effective Date:
The increase will be effective no sooner than one year after the effective date of the previously approved increase. All policyowners will receive notification of any premium increase at least 60-days prior to the effective date of the increase per regulatory requirements.
 
        2. Bankers Life and Casualty Company
 
Policy Form​ Series GR-N050, GR-N100, GR-N105, GR-N160, GR-N165, GR-N240, GR-N250,  GR-N270, GR-N280, 187R, 206A, 223G, 226A, 226G & 228R, 9% approval (SERFF: BNLB-131315020)

Approved​ 06/19/201​8
Proposed Effective Date:
This rate increase will apply to policies on their next billing date following a 60 day policyholder notification period.
  1. American General Life Insurance Company:
Policy Form​ Series 64028, ​8% approval (SERFF: LTCG-131180280)
 
Approved​ 5/4/201​8 
The proposed effective date:
The proposed effective date is as soon as possible following approval and fulfillment of all statutory and contractual requirements.
  1. John Hancock Life Insurance Company:
     
    Custom Care II & Essential Care II:  Policy Forms LTC-03 MD & BSC-03 MD; 15.6% increase -- phased in at 7.5% annually for two years. (SERFF MULF-131257459).
    Custom Care II (2007):  Policy Form LTC-03 MD (2007); 15.6% increase -- phased in at 7.5% annually for two years. (SERFF MULF-131257459).
    Custom Care II Enhanced (2010):  Policy Form LTC-03 MD 6/10; 5.0% increase (SERFF MULF-131257459).
    Custom Care II Enhanced: Policy Form LTC-03 MD 1/08; 5.0% increase (SERFF MULF-131257459).
    Approved 4/13/2018.

Proposed Effective Date:
These rates will be effective on the next policy anniversary date, following at least a 90 day policyholder notification period.

  1. Lincoln Benefit Life Company:

    Policy Form​ LB-7000-P-MD(Q) & LB-7000-P-MD(NQ), ​5% approval (SERFF LFCR-131298090)

    Approved​ 4/9/201​8

Proposed Effective Date:
This rate increase will apply to policies on their policy anniversary date following at least a 60-day policyholder notification period after approval.

  1. Brighthouse Life Insurance Company:

    Policy Form​ H-LTC3JP20, et al., ​11.5% approval (SERFF MILL-131114362)
    Policy Form​ H-LTC4JQ9, et al., ​5.0% approval (SERFF MILL-131114339)
    Policy Form​ H-LTC3JQ8, et al., ​5.0% approval (SERFF MILL-131114337)
    Policy Form​ H-LTC2J-30, et al., ​10.0% approval (SERFF MILL-131112553)

    Approved​ 4/6/201​8
Proposed Effective Date:
The rate increase will apply to policies on their billing anniversary date following at least a 60-day policyholder notification period.

 

  1. LifeSecure Insurance Company:

    Policy Form LS-0002, et al.​; ​5% approval (SERFF LFSC-131226285).

    Approved​ 3​/​27/201​8.

Proposed Effective Date:
The rate increase will apply upon approval following an appropriate policyholder notification period.

  1. Physicians Mutual Insurance Company:
     
    Policy Form P145MD, P146MD, P147MD, P148MD (SERFF PHYS-131256231): One average 5% increase.
    Policy Form P103MD,  P104MD (SERFF PHYS-131256076): One average 5% increase.
    Policy Form P130MD,  P131MD (SERFF PHYS-131255832): One 10% increase.

    Approved 03/14/18.
Proposed Effective Date:
This rate increase will apply to policies on their policy anniversary date following a 60-day policyholder notification period.
  1. Brighthouse Life Insurance Company:

    Policy Forms​ H-LTC3J, et al., H-5AI-2, H-COLR-3, H-NF3, H-IBOR​; ​15% approval (SERFF MILL-131114280).

    Approved​ 3​/​5/201​8.

Proposed Effective Date:
The rate increase will apply to policies on their billing anniversary date following a 60-day policyholder notification period.

  1. John Hancock Life Insurance Company:
     
    Group Long Term Care:  Policy Form GPB-SPR-0007.02; Maximum increase of 35.0% -- phased in at a maximum allowable increase of 13.5% annually for two years, then 4.8% in year three. (SERFF MULF-130851517).

    Corporate Choice:  Policy Form P-FACE(2004) MD; 26.6% increase -- phased in at 12.5% annually for two years (SERFF MULF-130851517).

    Additional Consumer Options

    For Group Long Term Care, those policyholders with 5% inflation may reduce their inflation protection to 4.1%, and totally offset the rate increase.

    For Corporate Choice, those policyholders with 5% inflation may reduce their inflation protection to 4.3%, and totally offset the rate increase.

    Approved 1/16/2018.

Proposed Effective Date:
These rates will not be effective until after the company has satisfied the required 90 days advance notice to the policyholder and to the insureds.

  1. ​The Prudential Insurance Company of America:
  • Policy Form  83500 BFW 5018 (et al) (SERFF PRUD-130918840): one 8.7% increase.

    Approved 1/9/2018.
Proposed Effective Date:
This rate revision will be implemented following state approval and a minimum of a 60-day notification to the certificate holder.
 
  1. Unum Life Insurance Company of America:

    Policy Forms
  • ​B.LTC, TQB.LTC, GLTC95, TQGLTC95​; ​5.2% approval (SERFF ​UNUM-130965778).

    Approved​ 1​/​4/201​8.
Proposed Effective Date:
The rate increase will apply to policies on their policy anniversary date following a 60-day policyholder notification period.
  1. MedAmerica Insurance Company:
  • Policy Form  SPL2‐336‐MD (SERFF TRIP-130982246): one 4.3% increase.

    Approved 1/2/2018.
Proposed Effective Date:
This rate increase will apply to policies on their next premium payment date following at least a 60‐day policyholder notification period following approval.
 

Approved Rates for 2017

  1. MedAmerica Insurance Company:
  2. Policy Form SPL-336 (SERFF MILL-130533302 ): two phased-in 15% increases with the landing spot option.
  • Policy Form LTC-LBP9-MD, LTC-CD8-MD,  LTC-CD9-MD, NTQ11-337-MA-MD-601,  LTQ11-336-MA-MD-601, LTQ11-336-MA-MD-1100, HTQ11-338-MA-MD-601, HTQ11-338-MA-MD-1100 (SERFF MILL-130993131): one 15% increase.

    Approved 12/14/17.
Proposed Effective Date:
This rate increase will apply to policies on their next premium payment date following at least a 60‐day policyholder notification period following approval.
  1. John Hancock Life Insurance Company:
Policy Forms ICC10-LTC-11; 7.5% approval (SERFF MULF-131066170).

Approved 12/5/2017.
Proposed Effective Date:
These rates will be effective on the next policy anniversary date, following at least a 90 day policyholder notification period.
  1. Continental Casualty Company

    Policy Forms P1-N0080-A19, P1-N0081-A19, P1-N0085-A19, P1-N0086-A19, P1-N0095-A19, P1-N0096-A19, P1-N0100-A19, P1-N0101-A19, P1-N0075-A19, P1-N0076-A19, P1-N0090-A19, P1-N0091-A19 (Only policyholders with automatic increase benefit rider) (SERFF # CNAB-130903197): 32.25% increase phased in at 15% annually over two years

    Approved 11/7/2017
Proposed Effective Date:
The rate increase will apply to policies on their next premium due date following a notification period at least as long as required by Maryland regulations.
  1. Principal Life Insurance Company:
     
    Policy Form FR 142 & FR 601 (SERFF TRIP-130609481): two phased-in 15% increases with the landing spot options.

    Policy Form FR 406 (SERFF TRIP-130609234): two phased-in 15% increases with the landing spot options.

    Approved 10/03/2017.
Proposed Effective Date:
This rate increase will apply to policies on their next premium payment date following at least a 60‐ day policyholder notification period following approval
  1. Transamerica Life Insurance Company:
     
    Policy Form FTQ (MD) 197 as Flex 2 TQ Series, LTC 3 (MD) 1091 (REV92), LTC 3R (MD) 1091 (REV92) as LTC 3 / 4 Series, LTC 5 TQ (MD) 1096 as LTC 5 TQ Series, LTCP (MD) 690 as Golden Care Series, GCPRO-III TQ LTC (MD) 497 and GCPRO-III TQ HHC (MD) 497 as Protector III TQ Series, KLTCP 1 (MD) 690 as Future Care Series, LI-LTCP (MD) 192 and LI-LTCP (MD2) 192 as Future Care 2 NTQ Series, LI-LTCP TQ (MD) 197 as Future Care 2 TQ Series, LI-LTCP TQ (MD) 600 as Future Care Pool TQ Series, LTC-104-194-MD, LTC-105-194-MD, LTC-106-194-MD as TransCare Companion Series, LTC 124-197-MD, LTC 125-197-MD, LTC 126-197-MD as TransCare TQ Series, LTC 304-198-MD, LTC 305-198-MD as TransGenerations Series 3122 (00) 288 (3132 (00) 288) as LTC GRP Series, GLTP 2 1289 & GHHC 1 189 (GLTC 2 1290 & GHHC 1 189 CERT) as LTC 2 GRP Series, GLTP 3 1091 & GLTP 3R 1091 (GLTC 3 1091 & GLTC 3R 1091) as LTC 3/4 GRP Series  (SERFF AEGJ-130628892): one15% increase.

    Policy Form GP001 796 (GC001-NH (MD) 796, GC001-LTC (MD) 796, GC001-HCC (MD) 796) (SERFF AEGJ-130630263): one15% increase.

    Policy Form TLC 1-FP (MD) 402, TOL 1-FP (MD) 402 and LI 1-FP (MD) 402 (SERFF AEGJ-130643915): one15% increase.

    Approved 10/03/17.
Proposed Effective Date:
The proposed rate increase will be implemented following approval and after fulfillment of all statutory and contractual requirements.
  1. Metropolitan Life Insurance Company

    Policy Form LTC2-FAC-MD, LTC2-VAL-MD, LTC2-IDEAL-MD, LTC2-PREM-MD (Policies with application dates after January 15, 2009) (SERFF META-130997063): one15% increase.

    Approved 10/10/2017.
Proposed Effective Date:
This rate increase will become effective on each policy's modal premium due date (monthly,quarterly, semi-annually and annually) following at least a 60-day advance written notification to the policyholder.
  1. Policy Form  LTC2007 (with policy application dated after April 30, 2009) (SERFF META-131132087): one 15% increase.
    Policy Form G.LTC1697 (including G.LTC5398 and G.LTC5498 in Maryland) (SERFF META-131016108): one 15% increase.
    Policy Form  G.LTC1697 (including GCLTCAARP04-OP in Maryland) (SERFF META-131016043): one 15% increase.
    Policy Form  G.LTC1697 (including GCLTCAARP06-FC in Maryland) (SERFF META-131014399): one 15% increase.

    Approved 10/10/17.
Proposed Effective Date:
The rate increase will apply to certificate holders on the anniversary of their original coverage effective date, following at least a 60-day notification period after the increase is approved.
  1. Kanawha Insurance Company:

    Policy Forms 82000 1/01 MD, 82120 9/01; 32.25% increase -- phased-in at 15% annually over two years (SERFF HUMA-130810366)

    Approved 10/11/17
Proposed Effective Date: This rate increase will apply to policies on their next premium payment date following at least a 45-day policyholder notification period following approval.
Policy Forms 80650 1/97 MD, 80880 NTQ 1/98 MD; 32.25% Policy Forms 80650 1/97 MD, 80880 NTQ 1/98 MD; 32.25% increase phased-in at 15% annually over two years (SERFF HUMA-130807445)

Approved 10/11/17
Proposed Effective Date: This rate increase will apply to policies on their next premium payment date following at least a 45-day policyholder notification period following approval.
Additional Consumer Options

For those policyholders with 5% inflation, the rate increase may be totally offset by reducing the inflation to 0%. All daily benefit amounts would remain at the current level. 
  1. Maryland Life & Health Insurance Guaranty Corporation on behalf of Penn Treaty Network America Insurance Company:

    Policy Forms 2400 et al, 2600 et al, 6000 et al, 6500 et al, HHC et al, HHC92 et al, IL94 et al, LTC et al, LTC-300 et al, LTC91 et al, LTC94 et al, NHP et al; 0-88.9% approval (phased-in at no more than 15% annually) (SERFF LTCG-130993460).

    Approved 10/04/2017.
Proposed Effective Date: These rates will be effective on the next policy anniversary date, following at least a 60 day policyholder notification period. 
  1. John Hancock Life Insurance Company:
     
    Advantage Series:  Policy Forms LTC-MD-91, NH-MD-91, LTC-94 MD, LTC-94-MD 9/94, NH-94-MD; 32.25% increase -- phased in at 15% annually over two years (SERFF MULF-130682001).

    Gold Series:  Policy Forms LTC-96 MD 9/96, LTC-96 MD 3/97, LTC-96CL MD 9/96, LTC-96CL MD 3/97, NH-99 MD 4/99, LTC2000 MD 4/00; 40.5% increase -- phased in at 12% annually over three years (SERFF MULF-130682001).

    Custom Care Series:  Policy Forms LTC-02MD, BSC-02 MD; 32.25% increase -- phased in at 15% annually over two years (SERFF MULF-130682001).

    Additional Consumer Options

    For the Advantage series, those policyholders with 5% simple or compound inflation may reduce their inflation protection to 3.9%, and totally offset the rate increase.

    For the Gold series, those policyholders with 5% simple or compound inflation may reduce their inflation protection to 4.1%, and totally offset the rate increase.

    For the Custom Care series, those policyholders with 5% simple or compound inflation may reduce their inflation protection to 4.3%, and totally offset the rate increase.

    Approved 8/1/2017.
Proposed Effective Date: These rates will be effective on the next policy anniversary date, following at least a 60 day policyholder notification period.
  1. SENIOR HEALTH INSURANCE COMPANY OF PENNSYLVANIA:
    Policy Forms 10955, 11001, 10956, CSHIC-5003-MD-2, ATL-FQ-LTC, ATL-HHC-3, ATL-HHC-4, ATL-LTC-1(MD), ATL-LTC-1-MD-93, ATL-LTC-6; 15% rate increase for policyholders with a 5% compound lifetime inflation rider approval (SERFF SHPT-130727220). Approved 7/21/2017.
Proposed Effective Date: As soon as possible following approval and fulfillment of all statutory, contractual, and operational requirements.
  1. Lincoln National Life Insurance Company:
    Policy Forms HL-2500AA, HL-2525AA, HL-2550AA, HL-2950AA; 15% approval (SERFF TRST-130818155). Approved 6/29/17.
Proposed Effective Date: This rate increase will be implemented as soon as possible following approval after fulfillment of all statutory and contractual requirements.
  1. John Alden Life Insurance Company:
    Policy Forms J-5762-P-MD, J-5762-R1-MD, J-5875-P-MD, J-5875-P-MD (Q)&(NQ), J-5875-R1-MD (Q)&(NQ), J-5875-R2-MD (Q)&(NQ); 15% approval (SERFF LFCR-130749238).
    Approved 3/29/17. 
Proposed Effective Date: This rate increase will apply to policies on the next policy anniversary date  following a 60-day policy owner notification period. 
  1. Northwestern Long Term Care Insurance Company
    Policy Form RR.LTC.(0798): 14.6% rate increase on average
    Policy Forms RS.LTC.(1101), RS.LTC.(1007), & RS.LTC.(0708): 14.5% rate increase on average
    Policy Form TT.LTC.(1010): 14.5% rate increase on average;  (SERFF NWST-130590237). Approved 3/1/17.
Proposed Effective Date: This rate increase will apply to policies on the next policy anniversary date after receiving state approval and following a 60-day policy owner notification period.
  1. Bankers Life and Casualty Company: Policy Forms GR-N620/GR-N630 GR-N640/GR-N670 GR-N650/GR-N680 GR-N690/GR-N694; 15% approval (SERFF BNLB-130786695). Approved 3/1/17.
Proposed Effective Date: This rate increase will be implemented to policies on their next billing date following a 45 day policyholder notification period.
  1. Physicians Mutual Insurance Company: Policy Forms P145MD, P146MD, P147MD, P148MD; 12% on average approval (SERFF PHYS-130755742). Approved 2/14/17.
  2. Physicians Mutual Insurance Company: Policy Forms P103MD, P104MD; 13% on average approval (SERFF PHYS-130755481). Approved 2/14/17.
  3. Physicians Mutual Insurance Company: Policy Forms P130MD, P131MD; 15% approval (SERFF PHYS-130732148). Approved 2/14/17.
  4. Physicians Mutual Insurance Company: Policy Forms P105MD; 15% approval (SERFF PHYS-130755715). Approved 2/14/17.
Proposed Effective Date: This rate increase will apply to policies on their anniversary date following a 60-day policyholder notification period. (All 4 Filings).
  1. Genworth Life Insurance Company: AARP Policies; Policy Forms 7044MD and 7044MD Rev; 15% approval (SERFF GEFA-130690941). Approved 1/23/17.
  2. Genworth Life Insurance Company: Non-AARP Policies; Policy Forms 7042MD, 7044MD, 7042MD Rev, 7044MD Rev; 15% approval (SERFF GEFA-130546414). Approved 1/23/17.
Proposed Effective Date: This rate increase will apply to policies on their next Anniversary Date of issue or last coverage change, following a minimum 60-day policyholder notification period. (Both Filings).​

Publications and Useful Information

 
Consumer Resources 
 
Insurance Laws addressing Long-Term Care Insurance 

Insurance Regulations addressing Long-Term Care Insurance

Proposed Regulations addressing Long-Term Care Insurance
  • Title 31 Maryland Insurance Administration
    Subtitle 14 Long-Term Care
    31.14 Long-Term Care Insurance
    View the proposed regulation as it appeared in the Maryland Register December 23, 2016. Comments close January 23, 2017.

MIA Long-Term Care Workgroup

 
 
House Bill 953 - Task Force on Long-Term Care Education and Planning
 
 
 
Commissioner Al Redmer, Jr. has convened an internal workgroup (the “Workgroup”) on Long-Term Care Insurance (“LTC”) to study the issues associated with the current state of the LTC marketplace in Maryland. Approximately 150,000 Marylanders are covered by long-term care insurance policies. “We’ve heard from long-term care insurance policyholders and carriers that there are issues associated with this specific type of insurance product. As the regulator, we’ve tasked a team of regulatory staff members to examine the issues, to hear from key legislators and stakeholders, and to make recommendations to address the most pressing concerns,” said Commissioner Redmer. “We know that this is a national issue so we will be looking at policy research already done in this area by the National Association of Insurance Commissioners as part of our process.”

The Workgroup will be co-chaired by Catherine Grason, Chief of Staff and Adam Zimmerman, Actuarial Analyst, and will include: Jeff Ji (Senior  Actuary),  Joy Hatchette (Associate Commissioner, Consumer Education and Advocacy), Nancy Egan (Director of Producer Outreach),Tracy Imm (Director of Public Affairs), Michael Paddy (Government Relations Associate) and Jamie St. Clair (Health Insurance Analyst). The Workgroup has invited the following parties to present their views:  
•Senator Adelaide Eckardt
•Delegate Ben Kramer
•Lorie Mayorga, Deputy Director Medicaid Eligibility Policy, Maryland Department of Health and Mental Hygiene (DHMH)
•Beth Sammis, Consumer Health First
•Melissa Barnickel, Principal Baygroup Insurance, LLC, Maryland LTCi Roundtable, National Association of Health Underwriters (NAHU) LTCi Advisory Group
•Sally Leimbach, Maryland LTCI Roundtable, Joint Legislative Committee of Maryland Association of Health Underwriters (MAHU) and The National Association of Insurance and Financial Advisors of Maryland (NAIFA-MD)
•Jeff Merwin, Director of LTC Brokerage, Capitol Metro Financial Services, Inc.
•Amanda Matthiesen, Executive Director, Product Policy, America’s health Insurance Plans (AHIP)
•Susan Coronel, Executive Director, Product Policy, America’s Health Insurance Plans (AHIP)
•Bill Weller, Consulting Actuary, America’s Health Insurance Plans (AHIP)
•Rod Perkins, Vice-President, Government Relations, The American Council of Life Insurers (ACLI)

Members of the public are welcome to listen to these meetings via conference-call.  The meeting dates and topics will be as follows:
 
DATE: Thursday, August 24, 2017 10 a.m.-12 p.m.
CALL IN NUMBER: (866) 247-6034
CONFERENCE CODE: 1573490062
TOPIC: Update on policy changes being considered by the Maryland Insurance Administration as a result of the information gathered during last year's workgroup meetings.
 
DATE: Tuesday, December 20, 2016 11 a.m.-12 p.m.
CALL IN NUMBER: (866) 247-6034
CONFERENCE CODE: 1573490062
TOPIC: Possible Legislation
AGENDA
•Tax Credits - Establish thresholds for tax credits based on age of policyholders and/or number of years paying premium.
•Other ideas​

DATE: Monday, December 5, 2016 11 a.m.-12 p.m.
CALL IN NUMBER: (866) 247-6034
CONFERENCE CODE: 1573490062
TOPIC: Communications and Education
AGENDA AND MATERIALS
•Discuss ways to improve communication between the LTC Carriers and their policyholders.
•What information would be needed from carriers to better understand the nature of the market in Maryland and how to obtain in? I.E. age of policyholder and spouse.
 
DATE: Monday, November 21, 2016 11 a.m.-12 p.m.
CALL IN NUMBER: (866) 247-6034
CONFERENCE CODE: 1573490062
TOPIC: 15% Cap on Rate Increases
AGENDA AND MATERIALS
•Review pros and cons of maintaining cap on rate increases.
•Review other workarounds associated with rate caps.

DATE: Monday, November 7, 2016 11 a.m.-12 p.m.
CALL IN NUMBER: (866) 247-6034
CONFERENCE CODE: 1573490062
TOPIC: Ways to establish more transparency for LTC consumers during the rate review process.
AGENDA
•Should the MIA post a company's actuarial memorandum and a summary document to its website upon a rate increase request? The MIA will discuss the merits of doing so and the potential format for such documents based upon Pennsylvania's model. A draft will be circulated and posted.
•LTC Rate Request Hearings
•Producer Notification of Rate Filings

Frequently Asked Questions

 

 
Long-Term Care Insurance: Frequently Asked Questions

 

To learn more: Visit www.longtermcare.gov.
 
Click Here for Printer Friendly Version
 
Questions About Long-Term Care
 
Q: What is long-term care?
A: Individuals with a prolonged illness, disability or cognitive condition (for example, Alzheimer’s disease) often need help with daily activities (such as dressing, bathing, and eating), as well as needing skilled medical attention. Long-term care services may include care management, rehabilitation services, adult day care, or hospice. These long-term care services may be delivered in an assisted living facility, at home or in a nursing home.
 
Q: How much will long-term care cost me?
A: The cost of long-term care depends on a number of factors, including the type of care you receive, where you receive this care, who provides this care and how long you need to receive this care. According to data available from the National Clearinghouse for Long-Term Care Information, the national average costs for long-term care services in 2010 were:
 
  • $205/day or $6,235/month for a semi-private room in a nursing home
  • $229/day or $9,965/month for a private room in a nursing home
  • $3,293/month for care in an assisted living facility (for a one-bedroom unit)
  • $21/hour for a home health aide
  • $19/hour for a homemaker services
  • $67/day for care in an adult day health care center
 
Q: What can I do to pay for my long-term care?
A:  Paying for long-term care does not need to be overwhelming. Several options are available to make paying for long-term care more manageable. Some of the options include:
 
  1. You may choose to fund the costs of your long-term care through investments you have made, such as an annuity. For more information about annuities, see the Maryland Insurance Administration’s publication, A Consumer Guide to Annuities, available online: http://insurance.maryland.gov/Consumer/Documents/publicnew/consumerguidetoannuities.pdf
  2. You may decide to sell certain assets, such as your home or other real estate.
  3. You may decide to obtain a reverse mortgage.  See: www.longtermcare.gov/costs-how-to-pay/paying-privately/reverse-mortgages/.
  4. You may be able to use your life insurance policy to pay for your long-term care by using one of the following methods:
    a. Combination life/long-term care insurance policies.
    b. Accelerated death benefits from a life insurance policy.
    c. Life settlement.
    d. Viatical settlement.
  5. You could purchase a long-term care insurance policy. Find out more at: www.naic.org/documents/prod_serv_consumer_ltc_lp.pdf
  6. You may buy a long-term care insurance partnership policy. Find out more at: http://insurance.maryland.gov/Consumer/Documents/publications/longtermcare.pdf
Q:  Will Medicare pay for my long-term care?
A: If you are eligible for Medicare, Medicare may provide limited coverage for skilled nursing and rehabilitation services in an approved facility.  But, Medicare does not cover custodial care services, intermediate care or services for a prolonged period of time. For more information about Medicare, visit the Center for Medicare and Medicaid web site, www.cms.gov/home/medicare.asp
 
Q: Will my Medicare supplemental policy pay for my long-term care?
A: If you have a Medicare supplemental policy, keep in mind that while some supplemental policies provide a limited benefit to help pay for at-home recovery on a short-term basis, not all Medicare supplemental policies cover this expense.  Also, while some Medicare supplemental policies provide a limited benefit while you are in a skilled nursing facility, the benefit only will be payable for the 20th through the 100th day of skilled nursing care in a nursing home. Under such a policy, you would not receive any benefits if you are receiving custodial or intermediate care, or if you need care after the 100th day of confinement.  It is important that you carefully review and understand the terms of your Medicare supplemental policy, what it covers, and how much it pays.
 
Q: Will Medicaid pay for my long-term care?
A: Maryland’s Medical Assistance Program (Medicaid) provides coverage for some long-term care services, but this program is only available if you satisfy certain eligibility requirements. You may be eligible for Medicaid depending upon your income and/or health status. For more information about the eligibility rules for Maryland’s Medical Assistance Program, visit the Department of Health and Mental Hygiene’s website, http://mmcp.dhmh.maryland.gov. The link for Medical Care Program Eligibility explains the eligibility requirements. The link for Long-Term Care gives an overview of which long-term care services are covered.

Questions about Long-Term Care Insurance:
 
Q: What does long-term care insurance pay for?
A: Long-term insurance policies,  long-term care insurance riders to life insurance policies and annuity contracts provide coverage for certain long-term care expenses that usually are not covered by traditional health insurance and HMO contracts, Medicare, or Medicare supplemental policies. Coverage is provided when you are unable to do a certain number of activities of daily living (such as bathing, eating, or dressing yourself) or are cognitively impaired. While the exact terms and conditions of coverage depend upon your individual policy, long-term care insurance generally covers services such as nursing home stays for custodial, intermediate and skilled nursing care. These policies also may cover home health care and adult day care. Long-term care insurance can be purchased as a separate stand-alone policy or as a rider to a life insurance policy or annuity contract. For more information on long-term care insurance, see A Shopper’s Guide to Long-Term Care Insurance, produced by the National Association of Insurance Commissioners at: www.naic.org/documents/prod_serv_consumer_ltc_lp.pdf.
 
Q: Should I buy long-term care insurance or a long-term care insurance rider to my life insurance policy or annuity contract?
A: Long-term care insurance is not for everyone. Before buying a long-term care insurance policy or a rider to your life insurance policy or annuity contract, it is important to understand what the policy or contract covers, know the limits of the policy or contract and understand any conditions the policy or contract may exclude. It is also important to make sure you can afford the premium payments.
It is also a good idea to consult with a tax advisor, as well as an insurance advisor, when deciding whether a long-term care insurance policy is right for you.  You may be eligible for federal and state tax benefits. Maryland law provides for a one-time tax credit of up to $500 after you purchase a long-term care insurance policy. In addition, federal law provides tax advantages if you purchase a qualified long-term care insurance plan.
 
Q: What questions should I ask before buying long-term care insurance or a long-term care insurance rider to my life insurance policy or annuity contract?
A:  Before making a decision to buy a long-term care insurance policy or a long-term care insurance rider to your life insurance policy or annuity contract, you should consider asking:
 
  • What type of care is covered?
  • Is there a waiting period before I can start using the benefits?
  • What happens if I am late paying the premium?
  • Is there a maximum number of days the policy or contract covers?
  • Does the policy or contract have a per-day limit? If so, does it take inflation into account?
  • What are the rules about pre-existing conditions?
  • What must happen in order for me to receive benefits under the policy or contract, i.e. doctor’s certification, unable to perform daily activity?
  • Has the insurer received approval to sell long-term care insurance in Maryland?
 
Q: What is the Maryland Long-Term Care Insurance Partnership Program?
A: The Maryland Long-Term Care Insurance Partnership Program is an innovative partnership between Maryland and private insurance companies that issue long-term care insurance policies. A policy sold under the Long-Term Care Insurance Partnership Program, by law, must meet the same standards as a long-term care policy not sold under the program. In addition, a partnership policy must meet certain specific federal and state requirements, and be certified as a “long-term care partnership policy” by the Commissioner of the Maryland Insurance Administration (MIA).  Partnership policies provide an additional level of protection, when compared to regular long-term care insurance policies. In particular, Partnership policies permit you to protect additional assets from spend-down requirements under Maryland’s Medicaid program if you should need assistance under this program, and you qualify.  For more information on the Maryland Long-Term Care Insurance Partnership, go to www.insurance.maryland.gov/Consumer/Documents/publications/longtermcare.pdf.
 
Q: Where can I find the Maryland regulations about long-term care insurance? 
A: Long-term care insurance regulations are found in the Code of Maryland Regulations (COMAR) section 31.14 Long-Term Care Insurance.   COMAR 31.14.01 relates in general to long-term care insurance.  COMAR 31.14.02 relates to long-term care insurance premium rates and reserves.  COMAR 31.14.03 relates to long-term care partnership policies.
 
Questions about Long-Term Care Insurance Rates
 
Q: Why are long- term care insurance premiums increasing?
A: When long-term care insurance policies were initially introduced across the country in the late 1970’s and early 1980’s, they were the first of their kind.  Insurance companies had no prior data from which to draw assumptions and make predictions about how the insurance market would behave 30 to 40 years into the future.  Unfortunately, many of these assumptions and predictions were inaccurate and resulted in companies being unable to price the long-term care insurance products appropriately.  As a result, long-term care insurers are raising premiums, to ensure that they will be sufficient to pay future claims.  Some original incorrect pricing assumptions and predictions included:
 
  • Higher than anticipated persistency: Fewer policyholders have allowed their policies to lapse than originally anticipated.
  • Policyholders are living longer than originally assumed, resulting in a higher rate of utilization of long-term care benefits. Additionally, the length of time a policyholder utilizes long-term care benefits is much longer than originally assumed.
  • Long-term care insurers’ investment return rates are significantly lower than originally assumed.

Q: What factors do insurance companies consider to determine the premium rates?
A: When insurance companies initially develop rates for long-term care insurance premiums, the main actuarial assumptions taken into account include lapse assumptions, mortality assumptions, morbidity assumptions and interest rate assumptions.  Additionally, an insurance company may offer you discounts when you are initially purchasing a long-term care insurance policy, for being a very healthy applicant (i.e. passing more rigorous underwriting criteria), being married, or living with someone.  Finally, long-term care insurance is generally offered on an issue-age basis, meaning the younger you are when you buy the policy, , the lower the insurance premium.


Q: Is there a maximum allowed annual premium increase for my long-term care insurance?
A:  Yes.  COMAR 31.14.01.04(A)(5) provides that except under certain exceptional circumstances, a long-term care insurer cannot raise your premium by more than 15% in a 12-month period.  Furthermore, COMAR 31.14.02.06(B)(2)(d) states that, except under limited circumstances, your renewal premium rate cannot be greater than new business premium rates, except for differences attributable to benefits.

Q: Do I have any options other than accepting the premium rate increase?
A: Yes.  If you would not like to accept the full premium rate increase, COMAR 31.14.01.36 requires every long-term care insurance policy and certificate to include a provision allowing the policyholder to reduce coverage and lower the policy premium in at least one of the following ways:

  • Reducing the maximum benefit; or
  • Reducing the daily, weekly, or monthly benefit amount.

Additionally, a long-term care insurer may voluntarily offer you other ways to reduce the impact of a premium rate increase by including options in the policy to lower the inflation protection rate, or by providing an option to reduce the inflation protection from compound to simple inflation. Before you make any decision involving reduction of benefits, you should understand the long term impact of doing so. 

Q: What does the MIA do when it receives a request from an insurance company to change its long-term care insurance premium rates?

The process to file a premium rate change request is as follows:
 
  1. All insurance carriers doing business in Maryland’s individual and group long-term care insurance market must submit premium rate change requests to the MIA through the System for Electronic Rate and Form Filing (SERFF).
  2. After an MIA analyst confirms that all required documents have been submitted, the filing is assigned to an initial reviewer.  For a detailed description of the initial review process, see the MIA’s power point entitled, “Long-Term Care Insurance Rate Review Process-Maryland” (October 27, 2016), available online: http://insurance.maryland.gov/Consumer/Documents/agencyhearings/Long-Term-Care-Insurance-Rate-Review-Process-SarahLi.pdf.
  3. After completing an initial review, the initial reviewer provides a rate review summary form to all other MIA actuarial staff for peer review.
  4. After peer review is completed, a public hearing may be conducted, during which MIA staff, the long-term care insurer that has requested the premium rate change, and consumers discuss the rate filing, and the long-term care insurer responds to questions from the MIA staff regarding the rate increase request.
  5. After considering the information provided in the hearing, and any additional public comments, the Insurance Commissioner makes a final decision to approve or disapprove the premium rate increase request.
Other Questions

Q: Can my long-term care insurer cancel my policy because of my age or health conditions?
A:  No.  Under COMAR 31.14.01.04F (1), a long-term care insurance policy can only be terminated by the insurer in three instances:  (1) nonpayment of premiums by the insured; (2) material misrepresentation in the application (within the contestable period); or (3) fraud in the application.
Q: Following a long-term care premium rate change public hearing, will the MIA make the minutes of the hearing available to the public?
A: Yes.  Within a few weeks after a long-term care insurance premium rate change public hearing, public transcripts, as well as any comments received by the MIA will be published on the MIA’s website.

Q: Will the MIA issue a ruling on allowing the proposed sale of Genworth Financial, Inc. to China Oceanwide Holdings Group?
A: No.  The decision to allow or disallow the proposed sale will be made by the state(s) in which Genworth Financial, Inc. companies are domiciled.  Since there are no Genworth Financial, Inc. companies domiciled in Maryland, the MIA will not rule on the proposed sale.

Q: Will an actuarial memorandum corresponding to a proposed long-term care insurance premium rate change be published on the MIA’s website?
A:  Yes.  Insurers that file a premium rate change request for a long-term care insurance product must also file an actuarial memorandum corresponding to each request.  The actuarial memorandum will be published on the MIA’s website.  Insurers will have an opportunity to submit a redacted copy of the actuarial memorandum, omitting any material the insurer contends is confidential, subject to the determination of the Commissioner, in accordance with the Maryland Public Information Act.  See Md. Code Ann., Gen. Pro. Art. § 4-335. 
 
As of January 3, 2017
 ​

Companies Approved to Sell Long-Term Care Insurance

Penn Treaty Liquidation FAQ

  ​Click HERE to learn more about the Penn Treaty Liquidation.