LTC Task Force Updates From NAIC Spring Meeting

During the National Association of Insurance Commissioners (NAIC) Spring Conference last week, the NAIC LTC Task Force met to discuss various topics and we wanted to share a summary of the discussion:

The bulk of the meeting was the Task Force receiving an update from each of its subgroups:

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NAIC Releases 2021 Strategic Priorities

The National Association of Insurance Commissioners (NAIC) is out this week with its strategic priorities for 2021, including a renewed commitment to long-term care insurance (LTCi).

NAIC says “state insurance regulators will continue on-going efforts to improve the consistency around LTCi rate review processes; examine insurer reserve adequacy; facilitate innovative product offerings; engage with federal policymakers on LTCi policy; and educate consumers on LTCi products and alternative benefit options.” NAIC’s LTCi (EX) Task Force is expected to deliver its proposal to the organization’s Executive Committee by the 2021 Summer National Meeting.

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