The NAIC’s Long-Term Care Insurance (B) Task Force (“Task Force”) has issued its recommendations for 2025 charges, which would disband the Task Force and reallocate the Task Force and the Long-Term Care (B) Working Group’s work to other related task forces.
The Task Force recommended that it be disbanded as of December 31, 2024, advising
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Key Components of Building Sustainable Long-Term Care Wellness Initiatives
A new paper out this week from Milliman takes a closer look at some of the key components of building and evaluating sustainable long-term care (LTC) wellness initiatives. The paper outlines the general steps and considerations for LTC wellness programs, including:
- Design considerations
- Risk framework
- Measuring success
- LTC wellness assumptions in long-term projections
Court Sides with Long-Term Care Insurer Over Claim Denial and Potential Fraud
A judge from the District of Colorado recently issued an opinion that might leave the door open for long-term care insurers to void policies after the contestability period expires if an insured commits fraud. See Meyer v. Mass. Mut. Life Ins. Co., No. 22-cv-2933, 2024 WL 2106452 (D. Colo. Apr. 26, 2024).
Though MassMutual…
Data-Driven Pre-Claim Programs Bend the LTCI Claims Cost Curve, New Report Shows
Our partner Nolan Tully recently co-authored a research report, “Data-Driven Pre-Claim Programs Bend The LTCI Claims Cost Curve,” with Assured Allies. In the report the authors discuss an evidence-based program to reduce aging-related disability and help long-term care insurance (LTCI) policyholders remain independent longer.
In the report, Nolan along with Assured Allies’…
2024 Intercompany Long-Term Care Insurance Conference
Faegre Drinker is delighted to sponsor and speak at the 2024 Intercompany Long-Term Care Insurance (ILTCI) Conference, coming up March 17-20 in San Diego. This annual event draws hundreds of attendees from insurance, financial, and other business sectors, and serves as a platform fostering collaboration among insurance regulatory authorities, educational institutes, actuaries, and others…
Faegre Drinker LTCi Leader Steve Serfass Talks Future of LTCI in New Podcast
Our very own Steve Serfass is featured in a new podcast episode of “Voices of LTCi” from The Helper Bees. In the episode, Steve talks with The Helper Bees CEO Char Hu about creating Faegre Drinker’s long-term care insurance (LTCi) practice and the importance of addressing the legal needs of the industry. He…
Artificial Intelligence Briefing: AI Insight Forum Underway
We wanted to bring your attention today to a new alert written by three of our Insurance practice colleagues summarizing recent legislative and regulatory efforts concerning Artificial Intelligence. Our AI team, led by Scott Kosnoff, has been at the forefront of these issues – including being included in discussions with, and providing education on, AI…
CDI Issues Bulletin Warning Insurers of False and Misleading Advertisements Related to Public Option Legislation Pending in California
Insurers and brokers selling long-term care (LTC) insurance in California should be aware of the California Department of Insurance (CDI) bulletin of August 23, 2023, expressing concern over certain complaints received by CDI regarding marketing efforts being used to encourage California residents to purchase LTC insurance in advance of any LTCi public option that may…
NAIC Privacy Protections Working Group Meets to Discuss New Model Privacy Law
On June 5-6, 2023, the NAIC Privacy Protections (H) Working Group (“PPWG”) held an in-person interim meeting (“session”) to continue its work on drafting a new model privacy law, the Insurance Consumer Privacy Protection Model Law #674 (“Model Law”). Model Law #674 is intended to replace the current Models #670 and #672. The session was…
Webinar: How COVID Has Changed Long-Term Care Insurance
Although the masks are for the most part behind us, the residual impacts and effects of COVID-19 will be felt by all for many years to come. In a webinar hosted this week by the Long Term Care Discussion Group, our colleague Sandy Jones (Partner, Philadelphia) discusses some of the considerations for long-term care…