Filed Under:Health Insurance, Ltci

NAIC panel adds LTCI, disability charges

The National Association of Insurance Commissioners (NAIC) has added a disability insurance item and a long-term care insurance (LTCI) to a key panel's official list of charges.

The NAIC's Health Actuarial Task Force now is responsible for working with the Society of Actuaries and the American Academy of Actuaries to development a replacement for the 1985 Commissioners Individual Disability Income Table.

The list of 2012 charges had already included an entry calling for the task force to work with the actuarial groups to develop a replacement for the 1987 Commissioners Group Disability Income Table.

The table could affect the price of disability coverage and, in some cases, give insurers the ability to use more variables when analyzing, designing and pricing coverage.

The task force also is supposed to open the Health Insurance Reserves Model Regulation to accommodate LTCI reserving changes recommended by the NAIC's LTC Actuarial Working Group.

Some observers have suggested that changing LTCI reserving rules might improve LTCI rate stability.

The NAIC has designated both the individual disability charge and the LTCI reserve charge as "important."

At the NAIC, the official charges form the framework for a panel's regulatory agenda.

The NAIC adopted a list of charges for the HATF panel and other NAIC panels at a recent meeting of the group's executive committee and its plenary -- the body that includes representatives of all voting members of the NAIC.

See also:

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]


In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI


Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's


An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting


Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources


Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.