Maryland Schedules Long-Term Care Insurance Rate Hearing

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The Maryland Insurance Administration is preparing to hold a public hearing on long-term care insurance (LTCI) rate increases at 1 p.m. Eastern time Feb. 12.

The agency has received requests for rate increases from five individual LTCI issuers.

“The purpose of the hearing is for insurance company officials to explain their reasons for the rate increases,” officials say.

The Maryland Insurance Administration will stream video of the hearing live from the agency’s Facebook page, and it will post a recording of the hearing on the Facebook page.

Interested parties can submit written comments, and they can also participate through a conference call number.

More information about the hearing is available here.

—Read Genworth Posts LTCI Rate Hike Update on ThinkAdvisor.

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