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.

New York has allowed the following increases to Partnership and non-Partnership policies:

New York
Product Series	Increase for Policies with Limited Benefit Periods	Increase for Policies with Lifetime Benefit Periods
Pre-PCS	52.1% phased 15%, 15%, 15% cumulative	52.1% phased 15%, 15%, 15% cumulative
PCS I	52.1% phased 15%, 15%, 15% cumulative	52.1% phased 15%, 15%, 15% cumulative
PCS II	52.1% phased 15%, 15%, 15% cumulative	52.1% phased 15%, 15%, 15% cumulative
Choice 1	52.1% phased 15%, 15%, 15% cumulative	52.1% phased 15%, 15%, 15% cumulative

This premium increase has been approved for all New York policyholders for these product series. However, those policyholders who selected a Tailored Option (i.e. landing spot) with the previous increase, will be implemented at a later date.

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 December 4, 2018 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.
 
Tailored Option Policies
We will implement this premium increase for Tailored Option policies sometime after we implement the increase for policies that do no include a Tailored Option. “Tailored Option policies” are policies for which the policyholder selected a “landing spot” (to reduce benefits) that was made available with the previous premium increase, announced in June 2015. We will send another bulletin before implementing the current premium increase on Tailored Option policies. Servicing agents will receive a separate notification listing policyholders whose Tailored Option policy premiums will increase.
 
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.
 
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: New York (Pre-PCS, PCS I, PCS II, Choice 1)
 

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