Upcoming LTC Rate Adjustments in Delaware and Maine
Delaware
Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come. To fulfill this commitment, we actively monitor emerging industry trends and make any adjustments necessary that enable us to keep our promises to policyholders and remain competitive in the marketplace.
For this reason, we will be implementing the following rate adjustments effective March 1, 2021:
| Block of Business | Impacted States |
| LTC06UI | Delaware |
For a complete rate history, see the state approval grid on Sales Professional Access.
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 January 1, 2021 to ensure policyholders in the approved states receive notification of their March 1, 2021 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.
Maine
Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come. To fulfill this commitment, we actively monitor emerging industry trends and make any adjustments necessary that enable us to keep our promises to policyholders and remain competitive in the marketplace.
For this reason, we will be implementing the following rate adjustments effective April 1, 2021:
| Block of Business | Impacted States |
| LTC04I, LTC04G and LTC06UI | Maine |
For a complete rate history, see the state approval grid on Sales Professional Access.
Policyholder Notification Process
Policyholders will receive a letter notifying them at least 90 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 January 1, 2021 to ensure policyholders in the approved states receive notification of their April 1, 2021 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 also available on the dedicated LTCi Rate Adjustment page on Sales Professional Access.