The Executive Committee of the National Association of Insurance Commissioners (NAIC) has approved an effort to have the NAIC Health Insurance and Managed Care Committee develop updates to the NAIC long-term care insurance (LTCI) models.
The approvals could lead to the development of formal proposals for amending the Long-Term Care Insurance Model Act and the Long-Term Care Insurance Model Regulation.
The NAIC’s Health Actuarial Task Force will be in charge of developing the model amendment drafts.
Eric King is the NAIC staff member supporting the project.
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The NAIC is a trade group for state insurance regulators. It cannot create state insurance laws or regulations itself, but it can create “models,” or sample laws or regulations, and encourage states to adopt laws or regulations based on the models.
The approval does not necessarily mean that the NAIC will end up updating the models, but it means that the committee can devote time to drafting proposed model amendments.