Regulatory Alerts2014-12-19 | Bulletin 2014-3Added · Updated
Oregon Insurance Division Bulletin 2014-3: Filing Requirements for Long-Term Care Premium Rate Increases
The Oregon Insurance Division issued Bulletin 2014-3 to establish guidelines for reviewing long-term care premium rate increase filings effective January 19, 2015. The bulletin mandates specific actuarial assumptions for rate determinations and allows for single or scheduled increases contingent on three-year monitoring provisions. It further requires insurers to implement contingent benefits upon lapse for certain pre-rate-stability policies and adhere to strict notification standards for policyholders regarding the increase details and mitigation options.
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