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Long-Term Care Insurance (EX) Task Force

2021 Membership

2022 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) 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.

2021 Charges

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

  1. 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, this Task Force is charged to:
    1. Develop a consistent national approach for reviewing LTCI rates that results in actuarially appropriate increases being granted by the states in a timely manner and eliminates cross-state rate subsidization.
    2. Further evaluate 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. Deliver such a proposal to the Executive (EX) Committee by the 2021 Summer National Meeting.
Long-Term Care Insurance Multistate Rate Review (EX) Subgroup followed by Long-Term Care Insurance (EX) Task Force

2021 Fall National Meeting
Long-Term Care Insurance Multistate Rate Review (EX) Subgroup followed by Long-Term Care Insurance (EX) Task Force
Sunday, December 12, 2021

Ballroom 20 ABC - Convention Center - Upper Level

Virtual: This meeting will be offered in a Virtual format.  Zoom links will be provided in the Event App.

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 
Phone: 816.783.8014

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