Regulators hammer out LTCI worksheet changes

The NAIC is heading to Chicago for its summer meeting Saturday. The Senior Issues Task Force, part of the NAIC’s Health Insurance and Managed Care Committee, has put a review of the worksheet revision draft and work on other LTCI consumer disclosure models on the agenda for a session set to start Saturday.

See also: Consumer rep raises LTCI disclosure concerns

The copy of the draft included in the task force meeting packet shows, for example, that regulators could add a warning stating that, “Inflation may increase the cost of long-term care in the future.”

The regulators might also add this question: “If you plan to pay premiums from your income, have you thought about how a change in your income would affect your ability to continue to pay the premium?”