In-Force Rate Action Announcement: Maryland (Pre-PCS, PCS I, PCS II, Choice 1)

> Choice 1 with Stable Premium Option

As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed.

Maryland has now allowed the following increases:

Maryland
Product Series Increase for Policies with
Limited Benefit Periods
Increase for Policies with
Lifetime Benefit Periods
Pre-PCS 23.6% cumulative
phased: 15%, 7.5%
23.6% cumulative
phased: 15%, 7.5%
PCS I 32.3% cumulative
phased: 15%, 15%
32.3% cumulative
phased: 15%, 15%
PCS II 28.8% cumulative
phased: 15%, 12%
28.8% cumulative
phased: 15%, 12%
Choice 1 15% 15%
     

This rate increase applies to non-AARP, non-partnership policies.

Communications Timeline
Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications. Policyholder notifications will begin April 16, 2019 and will continue throughout the next year. Impacted policyholders will be notified at least 60 days in advance of their billing anniversary dates.

* If we have your email address on file, you will receive an agent notification through email. If you do not receive an email, you will receive a hardcopy notification in the mail.

NOTE: Policyholders currently on claim will still receive a rate increase notification. However, if they are on waiver of premium, the rate increase will not apply until the premium is no longer waived and becomes due.
 
In addition, with this premium increase, eligible  Choice 1 policyholders may consider the Stable Premium Option to ensure no additional rate increases until at least 2028. This option includes a specific set of benefits shown in their premium increase notification.
See the Stable Premium Option bulletin dated April 9, 2018 for details.
 
Policyholders are encouraged to call our Customer Service Team at 877-710-0817. Our team will be able to answer questions and provide policyholders with information about how they may be able to reduce premiums.
 

In-Force Rate Action Announcement: Maryland (Pre-PCS, PCS I, PCS II, Choice 1)
 

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