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NAIC panels put LTCI on their agendas

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Members of the Long-Term Care Actuarial Working Group are getting ready to talk about the state of the private long-term care insurance (LTCI) market.

The working group, an arm of the Health Actuarial Task Force at the National Association of Insurance Commissioners (NAIC), plans to meet Nov. 28 in Washington, at the NAIC’s fall national meeting.

The working group will be considering one proposal to address the rate increases by changing the NAIC’s Long-Term Care Insurance Model Regulation, and also a proposal to change the LTCI reserving standards in the NAIC’s Health Insurance Reserves Model Regulation.

Another proposal on the agenda could require carriers to submit LTCI experience data reports.

Earlier in the day, the NAIC’s Senior Issues Task Force plans to hold a public hearing on LTCI issues.

“The goal of the public hearing is for task force members to learn more about recent trends and developments in the long-term care insurance market,” the task force said in a hearing announcement.

Topics on the agenda include changes in the market, changes in LTCI sales strategies, changes in the profile of LTCI buyers, and actuarial issues.

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