Insurance Department invites public comment on long-term care insurance rate increases through Aug. 15
The public has until Aug. 15 to weigh in on potential changes to long-term care rate increases, the New Hampshire Insurance Department announced yesterday.
As described in a department press release, “long-term care insurance is a supplement to traditional health insurance” that supplements insurance for individuals who rely on assisted living, adult day care, hospice care and similar services.
Under the department’s existing proposal, policyholders’ ages would determine the caps on rate increases: Premium increases for those age 50 and younger would be capped at 50 percent, and “policyholders who are 90 and older would face a maximum annual premium increase of just 2 percent,” according to the release.
More details on the proposed rate limit caps can be found at nh.gov/insurance under the “Legal Information” tab, which is found in the left sidebar.
Comments on the changes can be submitted via mail or email: to the New Hampshire Insurance Department, c/o Deborah O’Loughlin, 21 S. Fruit St., Suite 14, Concord, 03301; or to Deborah.Oloughlin@ins.nh.gov.