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Long-Term Care Insurance Reduced Benefit Options (EX) Subgroup

2022 Membership

2022 Adopted Charges

The Long-Term Care Reduced Benefit Options (EX) Subgroup will:

  1. Complete an evaluation and/or recommendation of options to help consumers manage the impact of rate increases. This includes:
    1. Finalizing development of a process to evaluate innovative options that allow for insurers to offer benefits that lessen the likelihood of an insured needing long-term care services, including evaluation of the suitability of and regulatory barriers to proposed options.
    2. The potential development of mechanisms to help regulators and consumers objectively compare reduced benefit options (RBOs), including comparison of accepting a rate increase and retaining current benefits to electing an offered RBOs.
    3. Finalizing the Consumer Notices Checklist for RBOs.
  2. Support and provide expertise to the Long-Term Care Insurance Multistate Rate Review (EX) Subgroup regarding evaluation of RBOs.
  3. The Subgroup should complete its charges by the 2022 Fall National Meeting.

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Eric King
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Please see the current Committee List for a complete list of committee members.