“The Financial Condition Committee recently approved a set of 2017 charges that call for the working group to ‘evaluate and consider long-term care … insurance and the impact of (long-term care) insurer insolvencies on the Life and Health Insurance Guaranty Association Model Act (Number 520),’ according to a meeting summary report. … Some have suggested that long-term care insurer insolvencies may be of interest to health insurers as well as to long-term care insurance issuers, because some states treat long-term care insurance as a health product and make health insurers share in the cost of helping failed long-term care insurance issuers’ insureds.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Here’s a comment for the NAIC: tell the government to stop giving away LTC after the insurable event occurs and let the market determine interest rates so that carriers can make valid returns on reserves and you won’t have to worry about LTCI insolvencies anymore.
NAIC seeks long-term care insurer insolvency comments