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Long-Term Care Insurance (EX) Task Force

2022 Membership

2023 Proposed Charges

Recognizing the gravity of the threat posed by the current long-term care insurance (LTCI) environment both to consumers and our state-based system of insurance regulation, the mission of the Long-Term Care Insurance (EX) Task Force is to: 1) monitor and evaluate the LTCI rate review process; 2) monitor and evaluate options to help consumers manage the impact of rate increases; and 3) monitor work performed by other NAIC groups to review the financial solvency of long-term care (LTC) insurers.

The Long-Term Care Insurance (EX) Task Force will:

  1. Monitor and evaluate the progress of the multistate actuarial (MSA) rate review process as outlined in the Long-Term Care Insurance Multistate Rate Review Framework (MSA Framework) document, and make modification, as appropriate. Monitor state insurance department rate review actions subsequent to the implementation of the MSA Framework and MSA rate review recommendations.
  2. Monitor and evaluate options to help consumers manage the impact of rate increases, including an evaluation of the use and impact of previously adopted guidance for states regarding reduced benefit options (RBOs).
  3. Monitor the work performed by other NAIC solvency working groups, and assist in the timely multistate coordination and communication of the review of the financial condition of LTC insurers.
  4. Monitor the work performed by other NAIC committees, task forces, and working groups, as well as federal regulators, related to the LTCI industry.

2022 Adopted Charges

Recognizing the gravity of the threat posed by the current long-term care insurance (LTCI) environment both to consumers and our state-based system of insurance regulation, the mission of the Long-Term Care Insurance (EX) Task Force is to: 1) further develop and implement a coordinated national approach for reviewing LTCI rates; 2) monitor and evaluate the rate review process; 3) evaluate and recommend options to help consumers manage the impact of rate increases; and 4) monitor work performed by other NAIC groups to review the financial solvency of long-term care (LTC) insurers.

The Long-Term Care Insurance (EX) Task Force will:

  1. Once adopted by the NAIC Executive (EX) Committee and Plenary, monitor, and evaluate the progress of the multistate actuarial (MSA) rate review process as outlined in the MSA Framework document. Monitor state insurance department rate review actions subsequent to implementation of the MSA Framework and MSA rate review recommendations.
  2. Complete an evaluation and recommend options to provide consumers with choices regarding modifications to LTCI contract benefits where policies are no longer affordable due to rate increases.
  3. Monitor the work performed by other NAIC solvency working groups and assist in the timely multi-state coordination and communication of the review of the financial condition of LTC insurers.
LTCITF 20221130

Public Conference Call
Wednesday, November 30, 2022
12:00 PM ET, 11:00 AM CT, 10:00 AM MT, 9:00 AM PT
Expected Length of Call: 1 hr
Webex Link

In lieu of meeting at the 2022 Fall National Meeting.

The Task Force will hold an open virtual meeting in lieu of the Fall National Meeting to 1) consider adoption of its minutes; 2) receive a report on the current activity and progress on the various workstreams of the Task Force; and 3) discuss proposed edits received on the Checklist for Premium Increase Communication.


Education & Training Events

There are no education and training events at this time.

Related NAIC Publications

Contacts

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


Jeff Johnston 
Managing Director, Financial Regulatory Affairs 
816.783.8014

Jane Koenigsman
Sr. Manager, L/H Financial Analysis
816.783.8145 

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