Filed Under:Health Insurance, Ltci

Senior panel to consider LTCI model update

State insurance regulators will be considering two long-term care insurance (LTCI) rate regulation efforts at an upcoming meeting.

The Senior Issues Task Force, an arm of the National Association of Insurance Commissioners (NAIC), has put proposed changes to the NAIC's LTCI model regulation and a proposed model LTCI rate increase bulletin on the agenda for a two-day LTCI meeting.

In a drafting note, drafters say the task force would like help from the American Academy of Actuaries with developing the minimum standards that an insurer could use to justify having the composite margin be less than 10 percent.

If a state adopted the proposed revisions, an insurance commissioner would have to get the actuarial memorandum supporting an insurer's LTCI prices reviewed either by an insurance department actuary with LTCI pricing experience or by an independent LTCI pricing actuary.

Featured Video

Most Recent Videos

Prospects not listening to voice mail? Arrange a phone date

Provided by LIFEHEALTHPRO

Redesigning your phone life is more important than finding the “best words” for a voice mail in today’s culture.

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

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

Provided by LIFEHEALTHPRO

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

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

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

Related resources

More Resources

Comments

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.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.