“Regulators End Effort to Develop Long-Term Care Hybrid Rules”

“Regulators End Effort to Develop Long-Term Care Hybrid Rules,” by Allison Bell, ThinkAdvisor

Quote:

“The National Association of Insurance Commissioners has stopped trying to develop new regulations for new types of long-term care benefits products, such as those that combine long-term care benefits with life insurance. Members of the NAIC’s Senior Issues Task Force have voted to shut down an arm — the Long-Term Care Insurance Model Update Subgroup — because the last chair quit in December 2021, finding a new chair has been difficult, and only one person has asked about the subgroup since the last chair left.”

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

There’s an old saying: “if it ain’t broke, don’t fix it.” Could this news mean regulators think hybrid policies aren’t broke afterall?