At its recent Fall 2021 National Meeting, the National Association of Insurance Commissioners’ (NAIC) Long-Term Care Insurance Task Force adopted the following items:
- the revised LTCI Multistate Rate Review Framework (MSA Framework);
- the LTC Wellness Benefits Document (See Attachment Six of the Meeting Materials, page 65); and
- the Checklist for Premium Increase Communications (See Attachment Seven of the Meeting Materials, page 82). The MSA Framework will be considered by Exec/Plenary at the 2022 Spring National Meeting.
The Task Force’s goal is to have the MSA Framework fully operational by September 2022. The wellness document and premium increase communication checklist need not go through any additional approval process and will be posted on the NAIC website for regulators to use.
Read an NAIC summary of the meeting.
We previously covered NAIC’s MSA Framework document in an earlier blog post and will continue to bring you updates on this topic.
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