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

2021 Membership

2021 Charges

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

A.  Further evaluate and/or recommend options to help consumers manage the impact of rate increases. This includes:

  1. Potential 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. 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. Further exploration of pursuing more uniformity in Consumer Notices for RBOs.

B.  Support and provide expertise to the Long-Term Care Insurance Multistate Rate Review (EX) Subgroup regarding evaluation of RBOs.

LTCI RBO SG Call 210504

Public Webex Meeting
Tuesday, May 04, 2021
3:00 PM ET, 2:00 PM CT, 1:00 PM MT, 12:00 PM PT Expected Length of Call: 1 hr
Webex Link

Hear industry presentations on long-term care insurance innovation and wellness programs.


Related NAIC Publications

Contacts

Media Inquiries
(816) 783-8909
news@naic.org


Eric King
Health Actuary
816-783-8234

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