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Life Health > Life Insurance > Term Insurance

Long Term Care Changes Advance At NAIC

By Jim Connolly

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A panel has endorsed measures that could affect long term care insurance producers’ continuing education requirements and reciprocity of LTC producer licenses.

Members of the long term care working group at the National Association of Insurance Commissioners, Kansas City, Mo., have voted here at the NAIC’s fall meeting to advance an LTC model act and model regulation and an accompanying long term care bulletin.

Kansas Insurance Commissioner Sandy Praeger is the chair of the working group.

The NAIC’s Health Insurance and Managed Care Committee must approve the package before the NAIC plenary, or body that represents all NAIC members, will consider it.

Regulators at the NAIC have been working on updating the LTC insurance model for 2 years.

Adoption by the working group was delayed while regulators examined the producer education component of the model, to make sure that it was in keeping with work done on reciprocity of producer licensing requirements, officials say.

Some regulators and others who helped to develop the model continuing education requirements wanted to make sure that their work stayed in the model.

Regulators ended up keeping Section 9 of the model act.

By making that decision, the regulators kept a requirement for 8 hours of training, with an additional 4 hours of training required every 2 years.

Working group members also left in place wording in Section 9D stating, “The satisfaction of these training requirements in any state shall be deemed to satisfy the training requirements in this state.”

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