Frequently Asked Questions
I've been paying for this certificate for years. Are you raising premiums because now I'm older and more likely to need my benefits?
No. Premium increases are not due to a change in individual health, age or claims history. Long term care insurance companies are only permitted to increase premiums on a group of certificates that have similar characteristics and benefits, and that are issued in the same state on the same policy form. Premium increases are based on actuarial projections of future claims costs, which demonstrate that a rate increase is warranted.
Did my employer or plan sponsor approve of this increase?
Your employer or plan sponsor was notified about this premium increase, but the employer is not required to approve this premium increase.
Why is the state of the increase applied to my certificate not the state where I currently live or the state where I enrolled in this coverage?
The increase approved is based on the state where your certificate was issued. In most cases, this is the state where the employer group plan (employer policy) is issued. In certain states, it may also be the state where you resided when you enrolled.
Did the state where my certificate was issued approve this increase?
We only implement premium increases in accordance with the state laws and regulations of the state where your certificate was issued. State regulations require that insurance companies file and support premium increase requests with justification (except for Alaska and Massachusetts).
Is my certificate’s issue state the only state where you are implementing this premium increase?
No. Generally, when rate increases are required, they are submitted in multiple states, but the implementation may be staggered over time as the increase is allowed and put into effect in the various states.
Who can help me decide whether to accept the premium increase or exercise one of the reduced benefit options?
Additionally, State Health Insurance counseling programs may be available to you in your state. Information about these resources can be found in the National Association of Insurance Commissioners (NAIC) Shopper’s Guide to Long Term Care Insurance