The Connecticut Insurance Department has weighed in on two more long-term care insurance (LTCI) premium increase applications.
The department rejected an application from Med America Insurance Company and told John Hancock Life Insurance Company to reduce the size of its average increase.
See also: Explaining LTCi rate increases
MedAmerica — an affiliate of Excellus, a New York state Blue Cross and Blue Shield carrier — had asked for permission to increase rates on 527 policies in force in Connecticut by an average of 39 percent.