2024 Membership

2024 Adopted Charges

The Long-Term Care Actuarial (B) Working Group will:

1. Provide recommendations, as appropriate, to address issues and provide actuarial assistance and commentary with respect to model requirements for appropriate long-term care insurance (LTCI) rates, rating practices, and rate changes.
2. Continue to develop health insurance reserving requirements (VM-25, Health Insurance Reserves Minimum Reserve Requirements) using a principle-based reserving (PBR) framework.
3. Develop LTCI experience reporting requirements in VM-50, Experience Reporting Requirements, and VM51, Experience Reporting Formats.
4. Develop a uniform actuarial approach to multistate long-term care insurance (LTCI) rate increase reviews for use in the LTCI Long-Term Care Insurance Multistate Rate Review Framework (MSA Framework) in support of completing Long-Term Care Insurance (B) Task Force Charge 1: Monitor and evaluate the progress of the multistate actuarial (MSA) rate review process as outlined in the MSA Framework document, and make modifications, as appropriate. Monitor state insurance department rate review actions subsequent to the implementation of the MSA Framework and MSA rate review.

Staff Support: Eric King

2023 Adopted Charges

The Long-Term Care Actuarial (B) Working Group will:

1. Provide recommendations, as appropriate, to address issues and provide actuarial assistance and commentary with respect to model requirements for appropriate LTCI rates, rating practices, and rate changes.
2. Continue to develop health insurance reserving requirements (VM-25, Health Insurance Reserves Minimum Reserve Requirements) using a PBR framework.
3. Develop LTCI experience reporting requirements in VM-50 and VM-51.

NAIC Support Staff: Eric King