Inforce Long-Term Care Insurance Rate Adjustments Effective 02/01/22
Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace.
We will be implementing the following inforce rate adjustments effective February 1, 2022:
| Effective Date | States Impacted | Policy Forms Impacted | Benefit Period | Overall Rate Increase Per Year |
| 2/1/2022 | Arkansas | LT50, NH50, HCA, NHA and LTA | Non-Lifetime | 25% |
| 2/1/2022 | Arkansas | LT50, NH50, HCA, NHA and LTA | Lifetime | 25% |
Policyholder Notification Process
Policyholders will receive a letter notifying them at least 60 days prior to the premium rate increase. The effective date of the premium rate increase will be listed in this notification. Notification to all affected policyholders will be received by December 1, 2021, to ensure policyholders in the approved states receive notification of their February 1, 2022, premium rate increase.
Along with the premium rate increase notification letters, most policyholders will receive an adjustment offer if there are options available. The offer will provide the policyholder a benefit reduction alternative to help reduce the impact of the premium increase.
Tools Available
Additional resources are available on Sales Professional Access, including:
- Historical rate adjustment information by policy form on the Rate Adjustment page.
- A list of impacted policyholders on the Reports page.
For a complete list of affected policy forms as well as additional key information, please review the FAQ.