CID: Long-Term Care Rate Filing - Connecticut Life & Health Guaranty Association (Individual)

Long-Term Care Rate Filing - Connecticut Life & Health Guaranty Association (Individual)



Rate Request: 69 percent increase

Decision: Under Review

Public Comment Period: June 2 to June 22, 2017

On May 25, 2017, the Connecticut Life & Health Guaranty Association requested an increase of 69 percent for long-term plans that had been issued by American Network Insurance Company, a Penn Treaty affiliate, from 1998 to 2008.

American Network was placed into liquidation by a Pennsylvania court. As a result of the liquidation, state guaranty associations consumer safety nets are providing coverage for policyholders. There are 531 policyholders in Connecticut with ANIC long-term care plans, which are no longer being marketed.

The Connecticut Life & Health Guaranty Association requested the rate increase, saying it needed to establish premium rates that are reasonable in relation to the benefits provided and the current interest rate environment.

Policyholders will be offered different benefit options to mitigate the impact of a large premium increase. Under Connecticut law, increases higher than 20 percent must be phased in over three years or more.

Public Comments can be emailed to: RateFilings@ct.gov



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Find the filing, brief summary and public comment section here at Health Insurance Rate Filings


Content Last Modified on 6/1/2017 1:33:40 PM